Amendment status not verified — confirm the current text below against the official source.
Since then there has been a steady rise in the cost of construction and maintenance of roads and the administrative expenditure. Further, due to the tempo of the Third Five-Year Plan, additional resources have to be found for meeting the increased expenditure that has to be incurred to fulfill the financial and physical targets fixed under the Plan. It is therefore proposed to increase the rate of taxation under the Motor Vehicles Taxation Act, keeping in view the rates prevailing in the neighbouring States. (Published in the Karnataka Gazette (Extraordinary), PART IV—2-A, dated 4-12-1962, as No. 242 ,at page 9.) IV Amending Act 23 of 1965.- 1. It is considered necessary that for the effective implementation of the Fourth Five-Year Plan ways and means for the additional resources have to be devised for meeting the increased expenditure that has to be incurred to fulfill the financial and physical targets fixed to be completed and hence the levy of increased rates of taxes in respect of goods vehicles is inevitable.