Over Rs 1.77 lakh cr Budget proposed for Haryana

Vijay C Roy

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Chandigarh, March 8

Encouraged by an uptick in revenues, Haryana Chief Minister Manohar Lal Khattar, who also holds the Finance portfolio, proposed a Budget of Rs 1,77,256 crore for the year 2022-23,with a focus on agriculture, rural development, women empowerment, health and education by increasing allocation.

Further, special emphasis has been given on capital expenditure to give impetus to the state’s economy. Presenting the Budget estimates, which have no fresh tax proposals, Khattar proposed a budget of Rs 1,77,256 crore for the year 2022-23, a rise of 15.6 percent over 2021-22 (RE) of Rs 1,53,384 crore. The Budget outlay comprises 34.4 per cent as capital expenditure of Rs 61,057 crore and 65.6 per cent as revenue expenditure of Rs 1,16,199 crore. “We have laid a special emphasis on increasing capital infrastructure investment to boost demand, which holds a key role in speedy economic revival with multiplier effect, “he said. “I take this Budget as an opportunity for Haryana to be at the forefront of the journey for India to contribute in the achievement of the vision for a five trillion dollar economy given by the Prime Minister, with an increased contribution of the state to the national economy from 3.4 per cent presently to 4 per cent,” he added.

Khattar said this Budget represents the hopes, aspirations and opportunities for a new Haryana emerging from the global issues in the last two years.

New funds

He also announced to set up three dedicated funds namely, a Climate & Sustainable Development Fund to achieve green development objectives, Research & Innovation Fund and Venture Capital Fund would to promote entrepreneurship.

Phased monetisation of identified assets

The government will launch a major drive to collate asset registers and develop a roadmap for the phased monetisation of identified assets. Additionally, the government is planning to clean up the balance-sheets of public sector enterprises and transfer non-performing assets (NPAs) to an asset recovery company.

Revenue deficit

For the fiscal year, 2022-23, the revenue deficit is pegged at 9,773.93 crore compared to Rs 12,523 crore in revised estimate of 2021-22. For the current year, the revenue deficit remains at 1.40 per cent as per RE 2021-22 and has been projected to further decrease to 0.98 per cent of the GSDP in BE 2022-23

Fiscal management

For financial year 2022-23, the fiscal deficit is expected to be within prescribed limit of 3.5 per cent by the 15th Finance Commission, at 2.98 per cent (Rs 29,618 crore) of the GSDP, as per the BE (Budget Estimate) of 2022-23”, Khattar said.

Debt liability set to go up

The debt liability is likely to go up to Rs 2,43,779 as on March 2023 from Rs 2,23,768 crore as on March 2022, constituting 24.52 % of the GSDP. It is well within the prescribed limit of 33.3% in 2022-23 as per the Central Finance Commission’s recommendations.

OTS for farmers

One-time settlement scheme (OTS) announced for farmers, which will provide waiver for the entire amount of interest, including penal interest, if the principal amount of crop loan or other loan is paid by November 30, 2022. The settlement scheme will be applicable to loans of PACS and the District Central Cooperative Boards (DCCBs).

More power to women

To empower women, the govt announced awards & loans for women entrepreneurs and hostel for working women. The state had set a target of setting up and supporting 10,000 self-help groups .

Safe Transport for girls

The government proposed to provide safer transportation facilities for girl students. Tablets will be given to all students from Classes X to XII studying in government schools

Specialist cadre of doctors

Proposal for specialist cadre of doctors who will perform only clinical duties. 40 pc seats in postgraduate medical courses in govt medical colleges to be reserved for docts in govt service.

IN NUMBERS

• Debt burden Rs2,43,779 cr
• Revenue Receipts Rs1,06,425 cr
• Revenue Expenditure Rs1,16,199 cr
• Revenue deficit Rs9,774 cr
• Fiscal deficit Rs29,618 cr

Budget estimates for 2022-23

LEADER SPEAK

Figures exaggerated

The Budget has always been presented with exaggerated figures and later, the allocations are reduced. The allocation to education sector has been reduced. — Bhupinder Singh Hooda, leader of opposition

No relief for common man

This Budget will not provide any relief to the common man. A lot of noise has been generated about the Budget but in reality, mostly old schemes have been presented as new ones. — Kumari Selja, HPCC President

High on loan

From 1966 to 2014-15, total loan of Rs70,931 crore was taken. But from 2015 to 2022 — in seven years — Rs1.53 lakh crore was taken. Where has this money gone? — Randeep Surjewala, Congress general secretary

Not a penny spent

To pay off debt, the govt is taking new loans. In last seven years, the govt has taken a loan of about Rs1.4L cr but not even a single penny has been spent on any new building, university or stadium. — Abhay Singh Chautala, INLD MLA

Will attract investment

Special emphasis has been laid on employment, industry, public works, rural development and civil aviation that will open employment opportunities and attract investment. — Dushyant Chautala, Deputy Chief Minister

Major initiatives

• Incentive programme in 100 clusters to promote natural farming
• A modern aquarium in public-private partnership at Gurugram
• Rs3 lakh ‘Darshan Lal Jain Environment Award’
• Setting up of state university at Nuh
• Establishment of Institute of Emerging Technology at Manesar
• Benefit of ‘Ayushman Bharat Yojana’ to families with annual income up to Rs 1.80 lakh.
• Free health check-up facility once in 2 years to families with annual income up to Rs 1.80 lakh.
• Rebate of 2% on loan interest for 3 years for opening hospitals and nursing homes in small towns, villages.
• New medical colleges to be opened at Palwal, Charkhi Dadri, Panchkula and Fatehabad.
• Target of training 1 lakh persons, 25,000 Gurus and 75,000 disciples under ‘Guru-Shishya Yojana’.
• Haryana Foreign Employment Placement Cell to provide placement to 1L youths in 2 years.
• Cashless medical facility in private hospitals to the insured workers and their family members.
• Financial assistance of Rs 2,250 per month to AIDS victims.
• Construction of 20,000 houses under Pradhan Mantri Awas Yojana.
• Establishment of Haryana State Sports Institute at Panchkula on the lines of National Institute of Sports.
• Target to add 2,000 new buses in Haryana Roadways.
• One-time settlement scheme for settlement of old VAT dues.
• Establishment of Sikh Heritage Museum at Lohgarh.