Odisha

Odisha Cabinet Nod To Waive Tax Arrear Upto Rs 5000; Other Decisions Here

By
OB Bureau

Bhubaneswar: The State Cabinet on Tuesday took the decision to write off tax cases upto Rs 5000 under various Acts.

At the Cabinet meeting held under the chairmanship of Chief Minister Naveen Patnaik, it was decided that considering the impact of COVID-19 on the business and 34,332 arrear tax cases, arrear tax upto Rs 5,000 till the tax assessment period June 30, 2017 under OST Act, OAST Act, CST Act, OVAT Act and Odisha Entertainment Tax Act would be written off.

The Cabinet also approved a proposal to implement “Rejuvenating Watersheds for Agricultural Resilience through Innovative Development (REWARD)” project. It envisages an expenditure of Rs 500 crore on science-based watershed management for a period of six years starting from April, 2021. Out of this, World Bank will provide a loan assistance amounting to Rs 350 crore.

This would have a greater probability of generating higher yields, gross revenue, and net income. There will be 1 direct beneficiaries including 10,000 poor and landless households.

Following are other proposals approved by the Cabinet:

  • A specific cadre rule i.e. “Odisha Small Savings & Financial Inclusion Service (Method of Recruitment and Conditions of Service) Rules, 2021”.
  • Award the construction work of Bargarh Main Canal to the Larsen & Toubro Ltd at an amount of Rs 340.36 crore.
  • Agricultural Produce and Livestock Marketing (Promotion and Facilitation)
    Third Ordinance to ensure the farmers to realise optimum value return
    of their produce and realize enhanced farm income.
  • Amendment of the Odisha Service of Auditors (Audit Officers) Amendment Rules, 2021 . A new post has been created as Chief Audit Officer-cum-Joint Secretary.
  • With a view to giving independent focus and effort to Handicraft Sector and considering the similarities between Handloom and Handicraft Sector, the handicraft sector separated from the Industries Department and merged with Handlooms, Textiles & Handicrafts Department.
  • Amendment of the Odisha Fiscal Responsibility and Budget Management Act, 2005. It will enable the government to meet higher resources requirement for COVID-19 management, maintain the standards of service delivery to the public, compensate the shortfall arising out of GST implementation (GST Compensation Shortfall), and maintain the level of Capital Expenditure on infrastructure projects in the State.

With the proposed amendment of the FRBM Act, the State Government
would be able to –
i. Avail additional fiscal deficit of 2% of GSDP during the financial year 2020-
21. This includes unconditional borrowing of 1% of GSDP and the balance
1% depending upon implementation of following four sectoral reforms,
each carrying weightage of 0.25%:
a. Implementation of One Nation One Ration Card System;
b. Ease of doing business reform;
c. Urban Local Body or Utility reforms; and
d. Power Sector reforms.
ii. carry forward unutilized borrowing ceilings availed during the financial
year 2020-21 to the next financial year,
iii. avail special borrowing under the Special Window towards the GST
Compensation Shortfall over and above the above relaxation, and
iv. avail additional fund in the forms of 50-year interest free loan under the
“Scheme for Special Assistance to States for Capital Expenditure” over and
above the above relaxation.

OB Bureau

Recent Posts

Moscow Entitled To Strike Military Targets Of Countries That Allow Ukraine To Use Weapons…: Putin’s Warning To ‘West’

Moscow: President Vladimir Putin has warned the countries that allow Ukraine to use their weapons…

November 22, 2024

4 Held From Gujarat 5 Months After Duping Elderly Odisha Couple Of Rs 34L In ‘Digital Arrest’

Bhubaneswar: After a five-month-long investigation, Jharsuguda police in Odisha busted an inter-state cybercrime racket and…

November 22, 2024

Vedanta Expands Its ‘Swarna Prashan’ Drive In Odisha’s Rayagada & Kalahandi

Bhubaneswar: Vedanta Aluminium has expanded its ‘Swarna Prashan’ initiative, an Ayurveda-based immunisation drive, to over…

November 22, 2024

Justin Trudeau Govt Denies Linking PM Modi, Jaishankar & Ajit Doval To Criminal Activities In Canada

Ottawa: The government in Canada, led by Justin Trudeau, on Friday denied linking Prime Minister…

November 22, 2024

Two Sisters Consume Poison In Odisha’s Boudh, One Dead

Bhubaneswar: A woman died while her younger sister is battling for life after an alleged…

November 22, 2024

Achyuta Samanta Conferred Lifetime Achievement Award At 43rd World Congress Of Poets

Madurai: Founder of KIIT, KISS, and KIMS, Achyuta Samanta has been honoured with Lifetime Achievement…

November 22, 2024

3 Bikers Die, One Critical After Being Run Over By Truck In Odisha’s Koraput

Koraput: Three persons died while one was seriously injured after a truck rammed into a…

November 22, 2024

Waqf Bill, 14 Others Listed For Winter Session Of Parliament

New Delhi: The BJP-led NDA government will introduce 15 bills, including one to amend the…

November 21, 2024