Toyota gets tax concession

Toyota gets tax concession

Briefing reporters after the meeting, Higher Education Minister V S Acharya said the improvement of fishing harbours will be taken up at Sirur-Alavegadde and Maravanthe in Kundapur taluk of Udupi district. A similar project would be initiated at Honnavara in Uttara Kannada district, he said.

The Cabinet decided to extend Rs nine crore tax concession to Toyota Kirloskar plant at Bidadi where it has expanded its facility for manufacture of a compact car. The company had sought tax concession on purchase of goods worth Rs 450 crore.

The government has so far granted Rs 80 crore tax concession to Toyota Kirloskar.  Acharya said the government also decided to waive interest and penal interest on non-farm credit availed by weavers, provided they have cleared their outstanding dues as on October 30, 2007.

Other decisions

* Establishment of a Chip Testing Characterisation Laboratory for testing semiconductor chips in Bangalore at a cost of Rs 7.2 crore
* Development of 25 km of road from Hospet to Bellary to link the airport at a cost of  Rs 137 crore
* Plan for developing Kemmannugundi tourists spot in Chikmagalur district at a cost of Rs 16.7 crore
* Truck terminal to be built at Dasanapura on the  outskirts of  Bangalore at a cost of 
Rs 20.48 crore
* Rs 50 crore for improving basic amenities in the newly carved out Yadgir district
* Second phase of Haveri Engineering College to be taken up at a cost of Rs 6.64 crore

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