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Govt takes major steps to mobilise Rs 68.8 billion

The government on Tuesday announced a series of measures to mobilise resources to the tune of Rs 68.8 billion to partly offset the mounting financial burden

The measures, which include five per cent cut each in the central budget and non-plan outlay, was necessitated by acceptance of the Pay Commission award and the revision of the same for certain categories of the employees.

Briefing newsmen in New Delhi, an official spokesman said the government has decided to increase the foreign travel tax by 10 per cent, impose three per cent additional special customs duty on the POL (petroleum-oil-lubricants) imports, and a 10 per cent increase in countervailing duty on zero-duty export promotion credit guarantee scheme.

The Union has recommended to the President to issue an ordinance in this regard.

These steps were taken at the mid-review of the budget by the Cabinet.

These steps have been taken as corrective measures to keep the fiscal deficit in check, the spokesman said.