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Home News Power Sector News Punjab increase Electricity Duty - Power to become costlier

Punjab increase Electricity Duty - Power to become costlier

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PunjabPower is set to cost more in Punjab following a proposal by Finance Minister Manpreet Singh Badal to increase the electricity duty by 3 per cent in his Budget for 2010-11, presented in the assembly. Badal, in budget estimates for the coming financial year said the electricity duty was proposed to be hiked from 10 per cent to 13 per cent for funding the green initiatives of the government. This comprises a three-point programme focusing on agriculture, energy and water.

"The Green Initiative of the government of Punjab is a climate change action plan. It is a comprehensive strategy to address the most critical aspects of the challenge posed by the climate change," he said. The Budget proposals would a leave revenue deficit, which is excess of government expenditure over receipts for meeting its current needs, of Rs 3,787.73 crore.
Currently, the electricity duty is being levied at 10% in the state. The 3% hike in the electricity duty will help the state to raise Rs 270 crore per annum.

The revenue deficit for 2010-11 is estimated at Rs 3,787.73 crore as against revised estimates of Rs 4,151.51 crore for 2009-10. Increase in deficit over the previous year is mainly on account of implementation of recommendations of the fifth Punjab Pay Commission.

The state's debt burden is expected to reach Rs 64,924 crore by this fiscal end. The total debt stock has increased from Rs 32,496 crore in 2001-01 to Rs 57,787 crore in 2008-09. Badal announced a sharp cut in the entertainment duty payable by cinema halls from 125% to 25%, while fully exempting theatres from tax.

The Budget proposals would a leave revenue deficit, which is excess of government expenditure over receipts for meeting its current needs, of Rs 3,787.73 crore.


Source- Financial Express
 

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