The state governmemt sanctioned a massive Rs 2,500 crore outlay for urban development works in the budget estimates for 2011-12 presented on Wednesday. The governement also proposed a tax exemption for transfer of copyrights of films relating to their exhibition in theatres.
The other proposals included installation of 5,000 CCTV cameras in Mumbai to strengthen law and order monitoring. The project will be implemented on a built, operate and transfer basis.
The state also announced a tax reduction, from 12.5 per cent to 5 per cent, on vada pav sold in restaurants. Deputy Chief Minister Ajit Pawar, who holds the finance portfolio, said Mumbai was the “home of the Indian film industry and is a major attraction for people from all walks of life.” He said VAT was levied on the transfer of copyrights of films in Maharashtra though many states which had a film industry did not levy the tax. “To encourage the industry to grow further in Mumbai itself and because of its major employment potential, I propose to exempt tax on transfer of copyrights of films relating to their exhibition in theatres,” he said.
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Pawar said the Centre had sanctioned 93 projects worth Rs 12,489 crore under the Jawaharlal Nehru National Urban Renewal Mission (JNNURM) for urban infrastructure development. It had also sanctioned 94 projects for 86 cities worth Rs 2,700 crore under the Urban Infrastructure Development Scheme for Small and Medium Towns (UIDSSMT). These schemes are being implemented. “For this an amount of Rs 2,500 crore is proposed for 2011- 12 towards Central and state share,” said Pawar.
The other proposals included installation of 5,000 CCTV cameras in Mumbai to strengthen law and order monitoring. The project will be implemented on a built, operate and transfer basis.
The state also announced a tax reduction, from 12.5 per cent to 5 per cent, on vada pav sold in restaurants. Deputy Chief Minister Ajit Pawar, who holds the finance portfolio, said Mumbai was the “home of the Indian film industry and is a major attraction for people from all walks of life.” He said VAT was levied on the transfer of copyrights of films in Maharashtra though many states which had a film industry did not levy the tax. “To encourage the industry to grow further in Mumbai itself and because of its major employment potential, I propose to exempt tax on transfer of copyrights of films relating to their exhibition in theatres,” he said.
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Pawar said the Centre had sanctioned 93 projects worth Rs 12,489 crore under the Jawaharlal Nehru National Urban Renewal Mission (JNNURM) for urban infrastructure development. It had also sanctioned 94 projects for 86 cities worth Rs 2,700 crore under the Urban Infrastructure Development Scheme for Small and Medium Towns (UIDSSMT). These schemes are being implemented. “For this an amount of Rs 2,500 crore is proposed for 2011- 12 towards Central and state share,” said Pawar.
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