CM Saini defends loans for development, cites Lord Rama on taxation

Chief Minister Nayab Singh Saini defended the state’s borrowing practices while responding to the budget discussion, invoking Lord Rama’s conversation with Bharat on taxation and taking poetic jibes at Opposition leaders. Over a session spanning eight hours and 36 minutes, he addressed various concerns raised by the Opposition, particularly on state debt, power sector liabilities, and welfare spending.

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Highlighting the newly launched ‘Lado Luxmi’ scheme, under which women will receive Rs 2,100 per month, he described it as a crucial step for women’s empowerment. When former CM Bhupinder Singh Hooda questioned why only Rs 5,000 crore was allocated for the scheme, Saini replied, “The terms will be revealed when the scheme is rolled out.”

Defending the Budget, Saini called it the "voice of the people", pointing out that 27 of the 78 pages in his Budget speech were dedicated to citizens’ suggestions.

Countering Hooda’s claim that Budget expenditure had increased by only 6-7%, rather than 13.7% as stated by the government, Saini said: “Guna Bhaj karlo (Do multiplication and division)!” He explained that compared to last year’s Budget Estimates, the increase was 7.97%, while compared to the Revised Estimates of 2024-25, it was 13.7%.

On power sector liabilities, Saini clarified, “As of today, the government’s dues towards DHBVN and UHBVN are only Rs 383 crore. In 2014, these were Rs 663 crore, and at that time, both entities had a loan of Rs 34,600 crore, which has now been reduced to Rs 19,326 crore.”

Refuting allegations of excessive debt, Saini said: “As per the Budget Estimates for 2025-26, total debt liability is projected at Rs 3.53 lakh crore, which is 26.18% of the state’s GDP, well within the 15th Finance Commission’s limit of 32.5%.”

He reassured the House saying, “In 2014-15, the state’s revenue deficit was 1.90% of GSDP. Under our governance, it was 1.09% in 2023-24. We aim to bring it below 1% by 2025-26.” On fiscal discipline, he said, “Our fiscal deficit is projected at 2.68% in 2024-25 and 2.67% in 2025-26, staying well within the 3% cap set by the Finance Commission.”

Rejecting Hooda’s suggestion that the state might need an additional Rs 20,000-crore loan, Saini said: “We will implement all commitments within the Rs 2.05 lakh crore Budget for 2025-26.”

On illegal mining, Saini accused the previous Congress regime of favouring select individuals. “During Congress rule, mining rights were given to just three people. Under our government, the revenue of the Mines and Geology Department has risen, proving that claims of illegal mining are baseless.”

Addressing concerns over the rising number of BPL (Below Poverty Line) families, he said: “While the national threshold for BPL status is an annual income of Rs 1,20,000, Haryana has raised it to Rs 1,80,000, which naturally increases the number of eligible families.”

For three hours and 31 minutes, Saini countered the Opposition’s claims, defending his government's policies on fiscal responsibility, infrastructure development, and social welfare initiatives. His speech sought to assure the Assembly that Haryana’s economic health remained stable while prioritising people’s welfare.