Shivraj urges FM to get additional capital gains tax relief on assets | Bhopal News

BHOPAL: Madhya Pradesh Chief Minister Shivraj Singh Chouhan on Tuesday urged Union Finance Minister Nirmala Sitharaman to abolish separate capital gains wealth tax managed by the state corporation.
Chouhan raised the issue during his meeting with the Union Finance Minister at her office in Delhi. As part of the Special Assistance to States for Capital Expenditure by the Government of India, an incentive of Rs 1,055 crore has been granted to Madhya Pradesh.
Chief Minister Chouhan said that in Madhya Pradesh, the government has introduced a special purpose vehicle (SPV) for the management of public assets. Capital gains tax is not levied when a government department is involved in asset management. But if you form a company separately, capital gains tax is levied, Chouhan said.
Urging the FM to consider his request, Chouhan said, “I urged the Honorable Minister of Finance to say that even though we are doing this by forming a separate company, we are doing it as part of our policy. Therefore, there should be no separate capital gains tax.
Referring to the incentive of Rs 1,055 crore granted to Madhya Pradesh, he said that we are managing public assets better by establishing the public asset management company. Madhya Pradesh is the first state to do so, he said.
Chouhan expressed his gratitude to the Union Finance Minister, saying that she has always shown interest in various programs related to the development and welfare of the people of Madhya Pradesh and discussed them very positively. . Chouhan then tweeted, “I express my sincere gratitude on behalf of the people of Madhya Pradesh for your continued cooperation.
Later, Chouhan also called Union Consumer, Food and Public Distribution Minister Piyush Goyal and discussed various topics related to crop supply and public distribution system in PM.
He informed the Union Minister that a special incentive is given for the sowing of pulses in the state for crop diversification. This year’s summer moong production is expected to be 16 lakh metric tons. He requested Goyal that in view of increased production and in the interests of farmers, in the 2022-23 marketing year, 25% of the 16 lakh metric ton quantity of moong be allowed to be purchased from the Price Stability Fund of 4 lakh metric tons.
CM urged Goyal to release about Rs 6,000 crore which has been pending for several years, for Madhya Pradesh, at the earliest. Goyal assured the Chief Minister to provide his full support.

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