“We need this money,” Commercial Tax Minister Vijayendra Yadav said in the state Assembly. What’s more excruciating is that this was the second increase in VAT in just three months. It even brought real estate under the ambit of VAT: Bihar hopes all these steps to yield Rs 1,000 crore (Rs 10 billion) this year.Īs a consequence, life saving medicine and items of daily use now cost more in Bihar than its neighbouring states. Earlier this month, the state decided to raise the VAT (value added tax) rate on almost every item. This is the reason why the Bihar government is desperately seeking funds. Unfortunately, this means the tax burden on the people is bound to go up in the coming days.” “The books are in deep red,” says an analyst, “Expenses are rising and income is shrinking. “The condition is not at all alarming,” says Development Commissioner Shishir Sinha, “Usually, our revenue picks up pace around the end of the second quarter.”Īnalysts are not convinced. State government officers are sanguine that they’ll achieve the target by the end of the financial year. And the excise revenue was 2 per cent of the annual target of Rs 2,100 crore (Rs 21 billion). The state had a target of Rs 22,000 crore (Rs 220 billion) in commercial tax the collection in the first quarter was just over 10 per cent of the target. The slump in tax collection has put a question mark on the state government’s ability to achieve this year’s revenue target. Meanwhile, commercial tax income fell from Rs 3,666 crore (Rs 36.66 billion) to Rs 2,372 crore (Rs 23.72 billion). Excise revenue nosedived from almost Rs 900 crore (Rs 9 billion) to just Rs 42 crore (Rs 420 million). The state’s tax revenue in the first quarter of the current fiscal had plunged over 34 per cent - from Rs 5,733 crore (Rs 57.33 billion) collected last year to Rs 3,752 crore (Rs 37.52 billion) this year. Senior bureaucrats of the state government grinned sheepishly at his prophecy, and with good reason - every word he said seems to be coming true.Įarlier this month, when Kumar was rebutting the Opposition’s objections over the new Prohibition Bill in the Legislative Council, his finance minister, Abdul Bari Siddiqui, was tabling a special report in the lower house of the state’s bicameral legislature: it was about the state of Bihar’s finances and it was not good. “No samosa tax can make up for the Rs 3,000-crore (Rs 30 billion) revenue loss,” he said. We have estimated Abdul Bari Siddiqui's net worth, money, salary, income, and assets.While speaking at a conference in Patna in June, economist Rothin Roy said that Chief Minister Nitish Kumar’s bid for total prohibition will jeopardise the state’s finances and warned that the health and social welfare sectors will be the first to bear the brunt of this misadventure. So, how much is Abdul Bari Siddiqui worth at the age of 68 years old? Abdul Bari Siddiqui’s income source is mostly from being a successful Politician. His net worth has been growing significantly in 2020-2021. According to our Database, He has no children. We don't have much information about He's past relationship and any previous engaged.
#ABDUL BARI SIDDIQUI EDUCATION UPDATE#
We will update Abdul Bari Siddiqui's Height, weight, Body Measurements, Eye Color, Hair Color, Shoe & Dress size soon as possible. Abdul Bari Siddiqui Height, Weight & MeasurementsĪt 68 years old, Abdul Bari Siddiqui height not available right now. He is a member of famous Politician with the age 68 years old group. We recommend you to check the complete list of Famous People born on 23 December. Learn How rich is He in this year and how He spends money? Also learn how He earned most of networth at the age of 67 years old? Popular As Discover Abdul Bari Siddiqui's Biography, Age, Height, Physical Stats, Dating/Affairs, Family and career updates. Abdul Bari Siddiqui was born on 23 December, 1953 in Darbhanga, India, is an Indian politician.
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