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Puducherry : Prices of electric vehicles in Puducherry are likely to come down with the UT government on Mar 25 proposing to reduce value added tax on such automobiles to four per cent from 12.5 per cent at present.
Chief Minister V Vaithilingam while presenting the budget for 2010-11 also announced special incentives to foreign investors promoting electronic industries and increase in sugarcane price to Rs 2,000 per tonne from next crushing year.
He also proposed exemption of VAT on mineral water produced by government-owned agro corporation PASIC and reduction in VAT on battery operated vehicles from 12.5 per cent to four per cent. He, however, proposed no fresh taxes in the Rs 4,430 crore budget for 2010-11. The budget estimates include a plan outlay of Rs 2,500 crore, non-plan provision of Rs 1,906.50 crore and centrally sponsored scheme involving Rs 23.50 crore.
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