INDORE: Madhya Pradesh Finance Minister Jayant Malaiya today said that the state budget, to be tabled this month-end, will focus on bringing down the taxes on the essential items to benefit economically weaker section of the society.
"Our priority will be to try to lower the taxes on the daily-use items of the economically weaker section and levy taxes on luxury items," Malaiya said, addressing Association of Industries, Madhya Pradesh, here.
Talks were being held with the industrialists, businessmen and other stakeholders to get their inputs, he said, adding that the objective this time would be to simplify and rationalise the tax system.
The states have had five to six meetings with the Centre over Goods and Services Tax (GST) and almost reached an understanding for its introduction in April 2016, the minister said.
GST will bring uniformity in the inter-state taxes and lessen the hassles of tax payers, he added.
Malaiya also said that the government wanted to promote new entrepreneurs for employment generation.
Financial health of the state was good, he said, admitting that however the liquidity situation was not so good as the government had spent as much as Rs 3,000 crore in compensating the farmers in distress.