Daily Excelsior....Home Page

THE LARGEST CIRCULATED DAILY OF JAMMU AND KASHMIR

JAMMU (JAMMU & KASHMIR) INDIA TUESDAY, MARCH 8, 2005

Finance Minister Muzaffar Hussain Baig delivering budget speech in the State Assembly on Monday. -Excelsior/Ashok

No new taxes but Govt to go tough on power tariff recovery; water, irrigation charges to be hiked
Baig presents zero deficit budget for third
consecutive time
Overdrafts from J&K Bank go upto Rs 1400 crore
VAT being implemented from April 1 this year
Proposal to heavily slash stamps, registration duty
Asset Re-construction Company to take assets of sick units
Local bodies to be equipped financially, administratively

By Sanjeev Pargal

JAMMU, Mar 7: Finance Minister Muzaffar Hussain Baig today presented his third consecutive zero deficit budget in the State Assembly but admitted that State’s overdraft with Jammu and Kashmir Bank has gone upto Rs 1400 crore. He said the budget was tax free with no new proposal to impose tax on any item in the next financial year but at the same time he added that the Government could consider Service Tax and increasing the rates of water and irrigation "in line with expenditure" over next three years..........more

Heated exchanges between Ministers,
Dillawar on corruption

Excelsior Special Correspondent

JAMMU, Mar 7: State Assembly witnessed heated exchanges, allegations and counter allegations between the Treasury Benches and Opposition National Conference (NC) Member Dillawar Mir during the second sitting today................more

Gunbattle at snow clad jungle hideout
Minister's killer among 6 militants killed

From Ahmed Ali Fayyaz

SRINAGAR, Mar 7: In a joint operation, Police and security forces today claimed to have killed six militants, who included one allegedly responsible for the assassination of former Law Minister Mushtaq Ahmed Lone. The gunbattle took place in Dooraswani forest area in Lolab valley of Kupwara district in north Kashmir......more

Rani Bloeria is JMC Deputy Mayor
Kavinder elected Mayor with cross voting from Cong

Excelsior Special Correspondent

JAMMU, Mar 7: Bharatiya Janta Party (BJP) candidate Kavinder Gupta and Congress candidate Rani Gargi Bloeria emerged victorious in keenly contested election for Mayor and Deputy Mayor for Jammu Municipal Corporation (JMC). Both the winner candidates got 36 votes respectively while their opponents secured 34 votes........more

Mustafa, Hajam elected SMC Mayor, Dy Mayor

Excelsior Special Correspondent

Srinagar, Mar 7: Ghulam Mustafa Bhat and Ghulam Mohammad Hajam of National Conference recently elected members of Srinagar Municipal Corporation were declared un-opposed elected as Mayor and Deputy Mayor for Srinagar Corporation at a function held in the central hall of Srinagar Municipal Corporation today........more

NC disrupts budget speech

The National Conference MLAs today disrupted the budget speech of Finance Minister Muzaffar Hussain Baig for more than 10 minutes in the Legislative Assembly.........more

Highlights of budget

*VAT to be implemented from April 1, 2005

*Budget deficit zero but overdrafts from J&K Bank at Rs 1400 cr

*Massive drive planned to collect electricity tariff, arrears

*Stamps, registration duty slashed heavily......more

‘20,000 jobs this year’

Describing the budget as growth oriented and expansionary, Finance Minister Muzaffar Hussain Baig told a customary press conference after presenting budget in the Assembly that the Government focus has now shifted from consolidation to expansion.........more