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Modi announces Rs 1.25 lakh crore investment package for poll-bound Bihar

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By NewsGram Staff Writer

A day after a Rs.1.25 lakh crore financial package was announced for poll-bound Bihar, the Finance Ministry on Wednesday declared tax incentives for five years to set up manufacturing facilities in 21 notified backward districts — including capital Patna.

Prime Minister Narendra Modi, addressing a rally at Arrah in Bihar on Tuesday, announced an economic package of Rs.1.25 lakh crore in a measure taken to woo voters in the state which is headed for assembly polls later this year.

The tax benefit will be available during the five-year period from April 1, 2015 to March 31, 2020, according to an official release issued here by the Finance Ministry.

Besides Patna, the other districts are Nalanda, Bhojpur, Rohtas, Kaimur, Gaya, Jehanabad, Aurangabad, Nawada, Vaishali, Sheohar, Samastipur, Darbhanga, Madhubani, Purnea, Katihar, Araria, Jamui, Lakhisarai, Supaul and Muzaffarpur.

During the period, the manufacturing units established in such areas will enjoy 15 per cent additional depreciation and 15 per cent investment allowance under the Income Tax Act on the total cost incurred.

The aforesaid incentives are in addition to other tax benefits available under the Income-tax Act, the release said.

“…Thus a manufacturing undertaking/enterprise set up in any of these areas during the aforesaid period will be eligible for 35 per cent (instead of 20 per cent) of additional depreciation.

“This would be over and above the normal depreciation of 15 per cent,” it said.

Besides, a company engaged in manufacturing will also be eligible for 30 percent (instead of 15 percent) of investment allowance if its investment in new plant and machinery during the period April 1, 2015 to March 31, 2017 exceeds Rs 25 crore.

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PM Narendra Modi Urges Youth to Stay Away From Drug Addiction as it Helps Anti-national Forces

Haryana Chief Minister Manohar Lal Khattar said strict compliance of the law had been ensured to break the drug trade and the smuggling network in Haryana

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Narendra Modi
Narendra Modi (Wikimedia Commons)

Prime Minister Narendra Modi on Tuesday urged youth to stay away from drug addiction, saying that it not only adversely affected the mind and body but also helps anti-national forces.

The Prime Minister was speaking through video-conferencing at the launch of ‘Drug Free India’ campaign organized by the Art of Living at Guru Jambeshwar University in Haryana’s Hisar town.

Modi said those who took drugs were unintentionally supporting anti-social elements.

“Drug traders harm the youth power and weaken the economic strength of the country. The Government of India has formed a National Action Plan to prevent cross-border drug trade and break the backbone of drugs business. It was implemented in 2018,” he said.

He said that a detailed action plan till 2025 has been prepared against drug addiction which includes an awareness generation campaign among the people, its prevention, and special campaigns for sensitive sections of the society.

Modi. BJP
Drug addiction helps anti-national forces: Modi. VOA

The Prime Minister also appealed to the people to adopt a sensitive attitude towards the victims of drugs by not looking at them as criminals and show these misguided youths the right path by connecting them to the mainstream society.

“Like other social evils, we would get this evil of drug addiction eliminated from society. The use of technology can play an important role in this campaign. Social organizations and community welfare organizations are playing a very important role in this direction,” he added.

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Haryana Chief Minister Manohar Lal Khattar said strict compliance of the law had been ensured to break the drug trade and the smuggling network in Haryana.

“The state government created a Special Task Force in January 2018 through which many drug dealers have been caught and large quantities of drugs have been seized,” he said. (IANS)