Government decreases stamp duty and waives road fees
In the assembly on Wednesday, the West Bengal government cancelled road tax on passenger transport vehicles and granted a stamp duty rebate as part of a Rs 3.08-lakh-crore budget for fiscal 2021-2022.
The government has agreed to prolong the one-time exemption of motor vehicle tax for the period beginning July 1, 2021, to December 31, 2021, thus according state industry minister Partha Chatterjee, who had tabled the vote-on-account before the House in February.
The administration has also suggested a two-percentage-point reduction in stamp duty for deed registration, as well as a ten-percentage-point reduction in the circle rate. Chatterjee presented the budget since Finance Minister Amit Mitra is unwell and unable to do so.
In response to a question concerning the student credit card plan, which was launched on June 30, the minister stated that a 4% interest rate will be charged as part of the subsidy, with the remainder borne by the government.
The surge in fuel prices in the country was also criticized in the budget address.