Shoes, Clothes and Cigarette To Be Cheaper As VAT Is Slashed
The Aam Aadmi Party’s (AAP) government announced a “Tax-Free” budget featuring a rationalized Value Added Tax or VAT structure that could bring down the prices of green cars, snacks, clothes and footwear in Delhi. “We had promised lowest VAT rates in the country, that process has been started today,” said Chief Minister Arvind Kejriwal in an press conference.
We present you the more similer version of the “Tax-Free” Budget.
Taxes have been cut on green cars and maximum has been allotted to health and education
VAT on electric and hybrid vehicles has been cut from 12.5% to 5%.
Tax has also been cut on sweets and snacks, garments, footwear, watches and school bags.
Installation of CCTVs in each classroom of every school.
VAT has been rationalized on all tobacco products including cigarettes.
Rs. 46,600 crore budget gives the maximum allocation to education, health and transport.
The Delhi government will pay for setting up lights in 82,000 dark spots across the city and provide drinking water to all areas including unauthorized colonies.
Rs. 1,068 crore has been allotted to women’s safety and empowerment and Rs. 1,381 crore for social security and welfare schemes.
And as promised, The electricity subsidy will continue and Rs. 1,600 crore has been set aside for it.
For more highlights, read NDTV’s article here.