West Bengal Budget targets tax collection at Rs 45,400 crore

Kolkata, Feb 18: West Bengal budget for 2014-2015 has set a tax collection target of Rs 45,400 crore, a rise of 13.5 per cent.

State Finance Minister Amit Mitra, while presenting the Budget in the assembly on Monday said: "We take up the challenge of generating more resources."

Mitra in his Budget speech said the Centre has dealt a body blow to the state's finances by blocking CST compensation to West Bengal to the tune of Rs 3,783 crore and Rs 850 crore from devolution fund.

Mitra also said that additional stamp duty of one per cent on properties exceeding Rs 25 lakh has been waived by raising the ceiling in excess of Rs 30 lakh.

The state Plan outlay for 2014-15 had also been raised by 15.65 per cent at Rs 30,847 crore. Mitra later told reporters the Budget has laid focus on job creation and voluntary tax compliance.

PTI