Latest news with #Rs8.62
Hans India
26-06-2025
- Business
- Hans India
Karnataka halves excise licence renewal fees
Bengaluru: Facing strong opposition from liquor shop owners and industry stakeholders, the Government of Karnataka has decided to slash the proposed excise licence renewal fees by 50%. The earlier hike, which aimed to double the renewal fees from July 1, had triggered widespread backlash, with traders warning of state-wide protests and economic strain. The government had initially increased the fees with an ambitious target of generating Rs879 crore in revenue for the state exchequer. However, the steep hike appeared to be a significant burden on licence holders across various categories, including bars, hotels, and retail liquor shops. As a result, several associations and stakeholders demanded an immediate revision. Under the previous proposal, CL9 bar and restaurant licences were set to rise from Rs8.62 lakh to Rs15 lakh, with an additional Rs2.25 lakh cess, bringing the total to Rs17.25 lakh. CL6A star hotel licences were revised from Rs9.75 lakh to Rs20 lakh plus Rs3 lakh cess, totaling Rs23 lakh. Similarly, CL7 boarding and lodging licence fees were raised from Rs9.75 lakh to Rs17 lakh, with Rs2.55 lakh cess, totaling Rs19.55 lakh. With the revised order, the excise renewal fees across these and other categories will now be reduced by half, effective from July 1. The decision is expected to bring significant relief to the liquor industry.
Business Recorder
19-06-2025
- Business
- Business Recorder
AJK govt unveils Rs310.2bn ‘tax-free' budget
MUZAFFARABAD: Azad Jammu and Kashmir government on Wednesday unveiled the annual budget with a record outlay of Rs310.2 billion, imposing no new tax. AJK Finance Minister Abdul Majid Khan presented the tax-free budget for the fiscal year 2025-26 in the Legislative Assembly with a development expenditure of Rs49 billion. He also announced a 10 percent increase in the salaries of government employees and seven percent increase in pensions. Delivering his budget speech in the AJK Assembly in Muzaffarabad, the finance minister said the total estimated budget size for the upcoming fiscal year is set at Rs310.2 billion, with an increase of Rs8.62 billion compared to the previous year. Majid Khan said the development and non-development budget were jointly fixed at Rs310.2 billion, with non-development expenditures estimated at Rs261 billion and development expenditures at Rs49 billion. He added that Rs2 billion have been allocated for the introduction of a health card in the upcoming fiscal year, while Rs240 million have been earmarked under the education package for school upgrades and the establishment of new institutions. To address the shortage of teachers in educational institutions, Rs60 million have been allocated, and biometric attendance systems have been implemented across all departments.
