Published: March 29,2016
In the budget for 2016-17 on Monday, the Delhi Government slashed value-added tax (VAT) rates from 12.5 per cent to 5 per cent on e-rickshaws, battery operated vehicles and hybrid vehicles.
Presenting the budget, Delhi Deputy Chief Minister and Finance Minister Manish Sisodia made e-rickshaws, battery operated vehicles, hybrid vehicles cheaper.
Under the transport allotment, two thousand new buses would be added to the existing fleet of the DTC and Clusters services.
The Deputy Chief Minister said GDP of Delhi has registered an increase of 13 percent and per capita income is estimated to go up by 11 percent from Rs 2 lakh 52 thousand to Rs 2 lakh 80 thousand. He said a provision of Rs 6,919 crore have been made in the budget for municipal corporations of Delhi.
Apex industry body The Associated Chambers of Commerce of India (Assocham) welcomed the Delhi Budget 2016 presented by Arvind Kejriwal’s government, terming it ‘pro-people’ and ‘revolutionary.’
“The Delhi government’s thrust on education sector, skill development and vocational training will perk up the infrastructure for education system and develop industry-ready workforce in the national capital,” said Assocham.
“Last year, the Budgeted Estimate was Rs 75 crore, in this budget it is expected that over Rs 500 crore. And as per the plan, more than 50% of the allocation will be spent on subsidising the vehicles and the remaining will be given to manufacturers for R&D, some part of it will be kept aside for pilot projects, and for creating charging infrastructures,” sources said.
Source: Economic times