Jharkhand Boosts Investment Appeal with Tax Amendments and Grassroots Internship

The Jharkhand government has revised VAT rates, increasing it on aviation turbine fuel to 12% and reducing it on high-speed diesel for mining to 15%. A new internship program for 17,380 students was also introduced, with additional approvals made for international investment outreach and educational recruitment.

The Jharkhand government has made significant amendments to its tax policy, increasing the VAT on aviation turbine fuel from 4% to 12% and reducing the VAT on high-speed diesel used in mining and industrial sectors to 15% from the previous 22% or Rs 12.5 per litre.

These changes were approved during a Cabinet meeting led by Chief Minister Hemant Soren. Additionally, a delegation, headed by the Chief Minister, is set to visit Spain and Sweden to attract investors, with Cabinet approval granted for the associated costs.

Among the 14 proposals sanctioned by the Cabinet is the Jharkhand Grassroots Innovation Internship Scheme, which will involve 17,380 students annually. The program is designed to engage students in traditional and modern practices and identify societal needs, alongside approving the recruitment of 1,373 secondary teachers.

(With inputs from agencies.)