Badal seeks I-T exemption on road safety schemes

Badal seeks I-T exemption on road safety schemes

Punjab Chief Minister Parkash Singh Badal has written a letter to Prime Minister Manmohan Singh, seeking income tax exemption in the next Union budget for corporates and NGOs investing in government-approved road safety programmes.

Badal also expressed concern at the growing number of fatal road accidents. He asked the PM to tell the Union finance ministry to exempt income tax on road safety investments. He suggested that this exemption can be similar to concessions given under Section 82 of the proposed Direct Tax Code for companies involved in family planning and HIV-AIDS prevention programmes.

High road fatalities
“India has reported the highest number of road fatalities in the world. In 2010, there were 1.33 lakh deaths and 5 lakh injuries on Indian roads,” said Badal.

He said, “These numbers translate to an economic loss of Rs 1,00,000 crore per year. Improved road design and a focus on pedestrian safety and better vehicles will help reduce accidents.”

He appreciated the role of the International Road Federation in promoting safety. He asked the PM to direct the Planning Commission to include programme in the 12th Five Year Plan.