Interacting with commission’s members, the Chief Minister sought permission to levy generation tax on hydropower produced in the state. Singh said a bill for taxation on generation of power has been passed by the state Legislative Assembly and is waiting presidential assent.
The Chief Minister said the state’s debt liabilities were 39.18 percent of GSDP, almost double of all state’s average of 20.55 percent. He requested the commission to consider the state’s debt stress and bail the state out of its financial situation through an appropriate intervention.
Chairman of the Finance Commission Y Venugopal Reddy, while appreciating the developmental needs of the state, assured all possible help to tide over the financial liabilities. – See more at: http://post.jagran.com/Himachal-CM-seeks-special-grant-of-Rs-12466-crore-to-meet-financial-liabilities-1376467278#sthash.QkPEO3q6.dpuf