Economy / Assam

GUWAHATI, Jan 13 — Assam’s own tax revenue is only four per cent of the Gross State Domestic Product (GSDP) against the national average of six per cent, said Committee on Fiscal Reforms (COFR) in its report, which was submitted to the State Government on December 7 last. The 11th Finance Commission assessed the State’s revenue receipts from its own tax and non-tax sources for the period 2000-2005 at Rs 12,953.22 crore with the assumption that the tax revenues of the State would grow at the uniform rate of 13.20 per cent every year. And, in respect of non-tax revenues, it was expected that the...

GUWAHATI, Jan 12— The State Government would receive a total fund and foodgrains of Rs 630.10 crore under the new centrally sponsored scheme, the ‘Sampoorna Grameen Rozgar Yojana (SGRY), an official release stated. This was disclosed by a senior official of Union Ministry of Rural Development who too part in a discussion held with the Project Director, DRDA of the State regarding implementation of Rural Development schemes in the state through Panchayati Raj Institutions organised at SIRD today.

According to sources, the break of the total allocation would be Rs 134.91 crore under the EAS and...

GUWAHATI, Jan 12— The Committee On Fiscal Reforms (COFR), constituted by the State Government with State’s former Chief Secretary Haren Das as chairman, has identified increase of expenditure on salaries, wages and pension, rise in security-related expenditure and grants to autonomous bodies and NGOs, loss incurred by public sector undertakings (PSUs), growing public debt and contingent liabilities, huge borrowings for flood control measures, failure to increase revenue to commensurate with expenditure and leakages in checkgates, tax offices and business establishments in matters of tax...

GUWAHATI, Jan 8 — The committee on fiscal reforms has suggested a four-pronged strategy to the State Government to mitigate the financial crisis. The four-pronged strategy include tax reform and selective enhancement of rates, expenditure control and reform, public sector unit reform and disinvestments and improvement in governance. Official sources said the Government has, in principle, accepted the recommendations and directed the concerned departments to work out the modalities for implementation of the recommendations. The committee, headed by former Chief Secretary HN Das submitted its...

GUWAHATI, Jan 4 — Union Minister of Petroleum and Natural Gas, Sri Ram Naik today announced that Government of India had decided to reduce the excise duty by 50 per cent of the total output of Digboi Refinery which had a successful run for 100 years. Announcing this while inaugurating the solvent dewaxing plant of the refinery of Indian Oil Corporation on the occasion of its centenary celebration, the Union Minister stated that the special concession to Digboi Refinery was on the pattern of relief available to Numaligarh Refinery Limited. He stated that the relief on excise duty would help...

GUWAHATI, Jan 2 – In view of ‘depressed price trend for the past three years’, the Consultative Committee of Plantation Association (CCPA) has drawn up an action plan to improve the current grim scenario by removing prevailing imbalances within the tea industry itself and bring about stability of prices of tea both in the domestic market and on the export front. The CCPA has underlined the need for increase in the production of orthodox tea to address to the problem of unfavourbale ‘orthodox:CTC’ mix which is constraining the country’s tea export. For the purpose, the CCPA has set a production...

NEW DELHI, Jan 2 – At a time when the Assam Government has identified tourism as a key sector for economic development of the State – describing it as the engine for growth – chronic problems continue to paralyse the functioning of Assam Tourism Information Centre (ATIC) here. If you are a tourist planning to visit Assam, then it would be far more convenient for you, as foreign tourist often discovers to make your own arrangements, rather then depending on the State Government’s Tourist Information Centre. You will have problems contacting it, its telephone has been lying out of order since...

GUWAHATI, Jan 1 — The Consultative Committee of Plantation Association (CCPA) move to block supply of low-quality end-season tea to the market came a cropper as hardly 30 per cent of tea gardens in both Brahmaputra and Barak valleys complied with its directive to stop plucking from December 1 and 7 respectively. The CCPA in November last year requested tea garden of Brahmaputra and Barak valleys as well as those from Dooars region to stop plucking in advance during December first week so that declining prices in the tea market could be arrested by avoiding flow of volumes of low-quality end...

JORHAT, April 17: The Oil and Natural Gas Corporation Limited (ONGC) will soon increase its regional allocation for funding socio-economic development projects in and around its areas of operation, the outgoing Chairman-cum-Managing Director of the oil giant Bikash Bora said while speaking as chief guest after formally inaugurating the Jorhat Lions Eye Hospital here recently. Presenting an account of the ONGC's contributions to various organisations on numerous fronts, Bora assured to support the Lion's benevolent movement to offer 'the best at the cheapest'. Though the Navratna company had...

GUWAHATI, April 8: The State Veterinary Department allegedly procured a dozen of immature jersey bulls from Australia of which 50 per cent are of genetically sub-standard quality, said knowledgeable circles here. However, the 58 heifers procured under the same project from the same country are comparatively better, though one of the heifers died at Chennai, the sources said. The cattle were imported from Australia under the ongoing Livestock Development Component (LDC) project sponsored by the World Bank. The cattle have been procured to set up one bull mother farm and two semen production...