Uniform VAT mooted to encourage flux of firms out of Delhi.New Delhi New Delhi (dĕl`ē), city (1991 pop. 294,149), capital of India and of Delhi state, N central India, on the right bank of the Yamuna River. , April 28 -- The National Capital Region comprising cities and towns from neighbouring States should introduce uniform VAT rates to encourage shifting of businesses from Delhi and ease pressure on its infrastructure, a parliamentary panel has held.The Standing Committee on Urban Development identified lack of uniformity in tax rates in the NCR (NCR Corporation, Dayton, OH, www.ncr.com) A technology company specializing in financial terminal transactions, retail systems and data warehousing. Until the late 1990s, NCR was heavily invested in the hardware side of the industry, known worldwide as a major manufacturer of computers areas as a main reason for concentration of trade and industries in Delhi and said prompt steps should be taken to make the region "a unified area in economic terms." Besides Delhi, the NCR region comprises parts of Haryana, Uttar Pradesh Uttar Pradesh (  `tär prä`dĭsh), state (2001 provisional pop. 166,052,859), 92,804 sq mi (240,363 sq km), N central India. The capital is Lucknow. and Rajasthan.
The Delhi Government has all along been maintaining that concentration of businesses and services in the city has resulted in increasing influx of people from other states to the city putting a lot of pressure on its infrastructure. Chief Minister Sheila Dikshit  This article or section resembles a .Please help [ improve this article] by removing excessive trivia, irrelevant praise and criticism, lists and collections of links that are of . had also strongly pitched for making the satellite towns in and around Delhi a common economic and taxation zone, a move she felt will cut down the increasing flow of migrants into the city. The Parliamentary Committee has asked the NCR planning board to pursue the matter of introducing uniform VAT in the region with the Union Finance Ministry and concerned states. The NCR Planning Board, an agency under Union Urban Development Ministry, coordinates various developmental projects among constituent states of the NCR region '"The Committee feels that uniformity in VAT (Value Added Tax value added tax n (BRIT) → impuesto sobre el valor añadido or agregado (LAM) value added tax n (Brit ) rates in the NCR region would encourage business establishments to shift out of Delhi to set up businesses in the NCR region without suffering any financial loss," it said. The Committee, headed by JD(U) MP Sharad Yadav, felt removal of fiscal barriers would not only result in harmonious and balanced development of NCR region but also help decongest de·con·gest v. To relieve congestion, such as of the sinuses. the national capital. It said lack of uniformity in tax rates for various commodities and services in the constituent states leads to concentration of trade, industry and services in the national Capital. The panel, in an earlier report had said that the number of industries in the capital had increased from 26,000 in 1971 to1,37,000 in 1999. The committee also asked the constituent states to make concerted efforts to implement the Regional Plan 2021 which was formulated by the NCR Planning Board for overall development of the region. It also criticised Delhi Government for failing to prepare a sub-regional plan as part of the broader regional plan for the region. The NCR Planning Board had asked all the constituent states to prepare sub-regional plan for overall development of the region. Published by HT Syndication with permission from Pioneer. For more information on news feed please contact Sarabjit Jagirdar at htsyndication@hindustantimes.com Copyright Pioneer Provided by Syndigate.info an Albawaba.com company |
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