Accident insurance policy benefits traders
LUCKNOW: Thirty two traders have benefited from the traders accident insurance policy during the last fiscal, said trade tax commissioner Rajneesh Gupta. He was talking to media persons on Wednesday.
It's noteworthy that this scheme was first launched in 2000-01 and all the traders registered with the trade tax department were given a life cover (accident leading to death) of Rs. 1 lakh.
Subsequently, the sum assured was raised to Rs. 2 lakh in the next year and in year 2004-05 the ceiling was further raised to Rs. 4 lakh.
However, this scheme has remained mired in controversy, with traders claiming that none of them have got the benefit so far. The trade tax department has claimed, that irregularity in registration by the traders is the main cause for this.
Giving details about achievement of the department the commissioner said that for the first month of current fiscal revenue of Rs. 501.88 crore was generated while the target was Rs. 465.00 crore.
The realisation is 107.93 per cent more than the target. Even the residual revenue realisation got a boost of 16.4 per cent for the same period which jumped up to Rs 15.6 crore.
"This shows the growing effectiveness of our department which has inculcated newer means like introduction of mobile recovery units, railway mobile units and help centres, state help centres etc, which gave us this boost", he claimed.
The commissioner said that the total revenue realisation for the year 2005-06 stood at Rs. 11,804.68 crore which is 27.95 per cent higher than the realisation for the preceding fiscal which stood at Rs. 9226.36 crore.
Giving a comparative analysis vis-a-vis revenue realisation with respect to VAT implemented states, the commissioner said that in the corresponding period Maharashtra got a revenue boost of 10.3 per cent, Andhra Pradesh 14.5 per cent, Karnataka 18.1 per cent, Rajasthan 16.7 per cent, Kerala 7.0 per cent, West Bengal 7.0 per cent, Haryana 17.6 per cent, Punjab 23.9 per cent, Orissa 23.2 per cent and Madhya Pradesh 10.3 per cent.
"This shows that non-implementation of VAT has not in any was hindered our revenue realisation strength", he said.
Talking about the sops given to the traders, the commissioner said that interest relief has been given against old debts and heavy concession has been provided against monetary fine and interest payment.
To provide better infrastructure facilities concerning electricity, heavy concession have been provided to mega electricity project involving capital infusion of more than Rs. 1,000 crore.
Source: http://timesofindia.indiatimes.com
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