Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
Popular Search: form 3cd :: VAT Audit :: empanelment :: VAT RATES :: ARTICLES ON INPUT TAX CREDIT IN VAT :: cpt :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TDS :: ACCOUNTING STANDARDS :: ACCOUNTING STANDARD :: TAX RATES - GOODS TAXABLE @ 4% :: Central Excise rule to resale the machines to a new company :: articles on VAT and GST in India :: due date for vat payment :: list of goods taxed at 4%
« News Headlines »
 Here's how to calculate tax payable on your capital gains
 Income Tax calculations for the financial year 2016-17
 CPE Events 17 October - 22 October 2016
 High Court raps I-T Department for wrong tax demand
  CBDT signs 5 advance pricing pacts with Indian taxpayers
 Finance ministry warns tax officials of action against GST protest
 Big changes for small units under GST
 Parliament’s winter session to begin on November 16 to expedite GST rollout
 Income-tax (27th Amendment) Rules, 2016 - 92/2016
 Announcement - Clarifications in Respect of MEF 2016-17
 Non-taxing GST apps to make filing income tax return less painful

Scope of road cess use to be expanded
December, 19th 2006
Financing rural projects and for repayment of loans

Road to development
Over next 4 years, Rs 16,000 cr may be available via cess
The total requirement is Rs 48,000 cr

The Government plans to expand the scope of road cess collected from motorists to finance rural road projects. The money collected through the cess on petrol and high-speed diesel would also be used for repaying loans taken for developing rural roads.

The Government has to resort to raising funds through loans and borrowings for developing rural roads as the funds accruing from cess are not enough to cover the rural road development programme. Over the next four years, Rs 16,000 crore is expected to be available for rural roads from the road cess, whereas Rs 48,000 crore is required to meet Government's target of providing road connectivity to all rural habitations with a population of over 1,000 (and over 500 in hilly and tribal areas).

To bridge the gap between funds required and funds likely to be available, the Government has decided to borrow Rs 16,500 crore over four years by creating a separate window under National Bank for Agriculture and Rural Development (NABARD). It also plans to raise Rs 9,000 crore through loans from World Bank and the Asian Development Bank.

To expand the scope of the road cess usage, the Minister of Road Transport and Highways, Mr T.R. Baalu, on Monday introduced a Bill in Lok Sabha to amend the Central Road Fund Act, 2000. He stated, "Since the Central Road Fund Act, 2000 does not have any provision for borrowing for rural roads and utilisation of the proceeds of future cess for repayment of loans, the Central Road Fund (Amendment) Bill, 2006 seeks to amend the Act to enable the Central Government to raise funds for development of rural roads and it may use the share of funds for the repayment of any loan taken for the development of rural roads in any State or Union Territory."

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Integrated Software Solutions Integrated Software Development Integrated Software Services Integrated Software Solutions India Integrated Softw

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions