Delhi Budget: Good start but AAP Govt needs deep study, says CAIT

New Delhi, Mar 28 (KNN) The Government has slashed the Value Added Tax (VAT) on several items, mostly manufactured by MSMEs, from 12.5 percent to 5 percent. A move welcomed by the traders of Delhi.

Talking to KNN, the Delhi Chairman of Confederation of All India Traders (CAIT) Naredra Madan said that it is a good start by Delhi Government.

"More the tax slab will go down, more the revenue generation will increase," he said.

Deputy Chief Minister Manish Sisodia tabled the Delhi Budget for the year 2016-17 in the Assembly today. This is the second time Aam Aadmi Party has presented its budget.

However, CAIT chief said that they have to think more to bring the VAT rate down more in many things.

He suggested that Delhi Government needs more deep study.

He proposed that the association can sit with Delhi Government and can show disparity.

"VAT should be brought down in automobile, timber, tea, chemicals, food grains etc. things," said the chairman.

As compare to previous Government it is a  good Budget, he added. (KNN Bureau)