Chennai: Property owners, large consumers of water and electricity and those who plan to buy upscale and two-wheeled cars must be prepared to pay more and help the country to withdraw from high debt burdens.
Simply put, every citizen of a country has ₹ 70,000 to his head as part of the country’s debt and it is ₹ 2.64 lakh for each family.
Presenting white paper on state finances in Chennai on Monday, Finance Minister Palanvel Thiamel Rajan dropped enough instructions on the need to distinguish between rich and poor people, lower classes and low-end.
On Friday, he will present the revised state budget, the first by the newly elected DMK government, and it can hold instructions for what the government must do.
On Monday, Thiaga Rajan said motor vehicle tax in Tamil Nadu had not been revised in the last 15 years and the average income of vehicles in the state was substantially lower than in Karnataka and Kerala.
Electricity tax rationalization is also too late, he said.
The deteriorating financial situation has resulted in them no longer able to borrow funds without state guarantees.
With the accumulation of debt the electricity sector and the PSU transportation sector alone in almost the ₹ 2 lakh crore, there is an urgent need to revise the tariff.
At least for large consumers, if not for all.
“We must ensure that requires getting their important commodities.
But there is a lack of mechanisms to prevent the rich people from getting the same benefits.
When this government pays ₹ 4,000 as Covid’s help to the rice card holder, I am sure even rich people or those who don’t need to benefit , While some are transferred.
It’s time for us to adopt a data-based approach to perfect shipping to the targeted segment, “he said.
The average cost of the state utility supply functions up to ₹ 9.06 per unit, while the average realization rate is ₹ 6.7 per unit at 2020-21, leaving lack of ₹ 2,36 per unit.
Purchasing high cost power and a lack of progress in its own generation unit in the last decade has pushed power costs.
While Tangedco’s share in offers to industry has declined, higher power rates make the country not competitive.
While the operational cost of the council TWAD is ₹ 20.81 per KL, it recovers only ₹ 10.42 from urban local agencies and ₹ 8,11 from rural local agencies.
CMWSSB operational costs around ₹ 36.58 per KL, while recovery costs only ₹ 14.08 per KL.
“Such operating losses are not sustainable or effective in terms of helping social justice and inclusive growth, due to leakage, wrong direction and / or abuse,” Minister said.
Indicates that property tax has not been reviewed since 2008, he wondered to basically behind the approach to someone’s uniform tax that lives in the main residential area in the city and low-income families living elsewhere in small plots.
“Some corrective steps that need to be taken are famous.
For further steps, the consultation and stakeholder expert process has taken place,” said Thiaga Rajan, citing the newly formed Global Advisory Council of the Minister of Ministers.
Minister of Finance Palanivel Thiama Rajan on Monday sought a data driven by data to ensure special benefits only achieve the actual ones in need