Bihar CM announces tax sops on food items

Bihar CM has declared a rebate in VAT on items of mass consumption.

Patna: Bihar Chief Minister Nitish Kumar has declared a rebate in VAT (value added tax) on items of mass consumption so as to give some relief to commoners from the soaring inflation.

He announced this while releasing a publication on the performance report of his government on Friday.

Speaking on the occasion, he said that the reduction in taxes of specific items would benefit the commoners to a certain extent.

"The impact of inflation has further increased. People across the country have protested against it. There is not much to do in the hands of the state government. But we decided that whatever we could do for this issue, we would by giving rebate in the tax," he added.

"As ration (staple food items) and oil are the essential requirements of common people, we have decided to reduce the tax, we have brought the VAT down to four percent. Because of this, the people will get a benefit of close to one rupee in the increased prices of commodities," he said.

He further expressed his happiness over the central government’s decision to revive the historical Nalanda University.

"The cabinet had decided that in the monsoon session, a Bill would be introduced for setting up the Nalanda University and revival of its heritage. I am extremely happy, as for the same reason we were putting in efforts since a long time, and at last the federal government has come up with the decision," he said.

According to the Bill, the university shall function as a public-private partnership and the governments of the member states would provide periodical funds.

The proposed university will have schools like Buddhist studies, philosophy and comparative literature, historical studies and ecology and environmental studies among others.


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