TODAY -
GSDP has doubled since 2016-17, claims CM ; State Govt moots legalisation of Cannabis
Source: The Sangai Express / DIPR
Imphal, September 21 2019:
Chief Minister N Biren Singh said that the growth rate of Gross State Domestic Product (GSDP) has doubled from 4 percent in 2016-17 to 8 percent in 2018-19 .
Briefing media persons at the Chief Minister's Secretariat today, Biren stated that the State's own tax revenue has steeply increased from Rs 587 crore in 2016-17 to above Rs 1000 crore in 2018-19 .
Such result shows that with the advent of the present Government, there is economic growth in the State, he added.
Such pace of development and growth would transform Manipur into an advanced State in near future.
|
He opined that the Government has been able to achieve such result with the love, support and co-operation of the people of the State.
The State once plagued by bandhs and blockades has been completely transformed into a State of economic growth, he added.
The Chief Minister maintained that the arrival of foreign tourists has increased significantly from 500-600 tourists per year in 2015-16 to above 1000 tourists per month these days.
He said that the Government has been planning to legalise Cannabis solely for medicinal and industrial purposes.
The State Cabinet would discuss the matter in the next meeting.
He also mentioned that other States like Arunachal Pradesh, Uttar Pradesh and Uttarakhand have already legalised Cannabis for medicinal purposes.
Biren announced that under the 'Start-up Manipur' scheme, a new programme called 'Stand-up Manipur' would be introduced to provide soft loans to SC, ST, OBC, Minority entrepreneurs of the State.
Hailing the historic step taken by Union Finance Minister Nirmala Sitharaman on corporate tax rate cuts, the Chief Minister said that all domestic companies would be allowed to pay corporate tax at the rate of 22 percent which was earlier 30 percent.
Any new domestic manufacturing company, incorporated on or after October 1, 2019, will be allowed to pay corporate tax at the rate of 15 percent, he added.
He maintained that no tax would be imposed on buy-back of shares in case of listed companies which have already made a public announcement of buy-back before July 5, 2019 .
There would be an expansion in the scope of CSR activities.
Companies can now spend 2 percent of the money on State or Union Government incubators, PSUs, State universities, IITs, public-funded entities, he added.
The press conference was attended by Principal Secretary (Finance) Rakesh Ranjan who is also Principal Secretary to CM, OSD to CM Sumant Singh and other officials.
* Comments posted by users in this discussion thread and other parts of this site are opinions of the individuals posting them (whose user ID is displayed alongside) and not the views of e-pao.net. We strongly recommend that users exercise responsibility, sensitivity and caution over language while writing your opinions which will be seen and read by other users. Please read a complete Guideline on using comments on this website.
HEADLINES - 22, SEP 2019
SNIPPETS - 22, SEP 2019
SPORTS - 22, SEP 2019
LATEST IN E-PAO.NET
Jump Start
DBS Imphal SubSite |
Readers Mail |
Editorials |
Education Announcements |
Essay |
Exclusive Event |
Flash - Audio Visual |
Incidents |
LFS Imphal SubSite |
News Timeline |
Poetry |
Opinion |
Sports |
Rock Concert |
RSS |
Top Stories |
Wathi Jugai