IEP Chandigarh, February 23
Haryana Chief Minister, Sh. Manohar Lal, who also holds the portfolio of Finance Minister, today presented a budget of Rs. 1,83,950 crores, the biggest in the State’s history.
In this year’s budget, there is an increase of 11.6 per cent over Revised Estimates 2022-23 of Rs. 1,64,808 crores. Not only this, while presenting the first Budget of the dawn of Amrit Kaal, the Finance Minister announced that no fresh taxes will have been imposed in the Budget as the State Government aims to build a Resilient and Resurgent Haryana.
“I feel fortunate that I have got the opportunity to present first Budget of the dawn of Amrit Kaal which will be a time for national development and glory. This budget will build a strong foundation to fulfill the grand vision of a developed India. We will make a prosperous and capable India, in every way by 2047,” asserted the Finance Minister.
Sh. Manohar Lal while presenting the state budget 2023-24 during the ongoing session of State Vidhan Sabha here today said that with the inclusion of Haryana Parivar Suraksha Nyas, one lakh houses for Antyodaya families, extension of CHIRAYU-Ayushman Bharat Yojana benefits for families with annual income up to Rs 3 lakh, increase in social security pension from Rs. 2500 to Rs. 2750 and eligibility income increased from Rs 2 lakh to Rs 3 lakh, welfare of every section has been ensured.
Besides this, in this year’s budget, thrust has been laid on setting up Haryana Parivar Suraksha Nyas, construction of 1 lakh houses for Antyodaya families, development of residential sector in 10 industrial sectors and 10 cities through land pooling, land partnership, e-Bhoomi, waiver of interest arrears on renewal fee in cities etc.
He said that the media persons too will get the benefits of the cashless medical facility as availed by the for Government employees. Besides this, National level Scientific Training and Rehabilitation Centre for Sports (STRCS) will be setup 95) to assist in the training efforts of sportspersons who aim to compete nationally and internationally and to nurture them in case of injuries.
The Finance Minister further announced that the benefit of CHIRAYU-Ayushman Bharat would also be extended to families of all anganwadi workers, chowkidars etc. Along with this, a special provision has been made in the budget for the promotion of natural farming. Also, mapping of every child in the 6 to 18 years age group is being mapped so as to ensure that no child remains deprived of educational opportunities, informed Sh. Manohar Lal.
65.8 percent mapped for the schemes aimed at achievement of SDGs
The Finance Minister said that like in the past, he has aligned the Budget allocation with Sustainable Development Goals (SDGs). An outlay of Rs. 1, 20,958 crore of total expenditure of Rs. 1,83,950 crore being 65.8 percent has been mapped for the schemes aimed at achievement of SDGs being implemented in the State. This allocation has been made for those schemes which are being implemented to achieve the Sustainable Development Goals.
This budget is different from the budget of other financial years. After 25 years, when we will celebrate the centenary year of independence, how Haryana will be in terms of prosperity and prosperity, this budget has laid the foundation for building an advanced Haryana.
He said that an outlay of Rs 57,879 crore, which is 31.5 per cent, and Rs 1,26,071 crore, which is 68.5 per cent, have been proposed for the creation of capital assets in the budget.
Growth rate estimated to be 7.1 percent
The Finance Minister said that this budget also reflects our commitment for the development of the state as per the Sustainable Development Goal (SDG) Vision-2030. Haryana contributes about 3.86 per cent to India’s Gross Domestic Product (GDP), which is more than proportionate to its size or population. It is a matter of pride for Haryana that the GSDP growth rate is estimated to be 7.1 percent in the year 2022-23.
Haryana’s share in GDP to increase from 3.52 percent in 2014-15 to 3.86 percent in 2022-23
The Finance Minister said that the rate of growth of the State Gross Domestic Product (GSDP) has been more than the country’s Gross Domestic Product and the per capita income of the state has been more than the country’s per capita income. The annual compound annual growth rate of Haryana’s GSDP at constant prices from 2014-15 to 2022-23 has been 5.62 percent, while the nation’s GDP growth rate during the same period has been 4.58 percent. As a result, the share of Haryana in the nation’s gross domestic product has increased from 3.52 percent in the year 2014-15 to 3.86 percent in the year 2022-23.
He informed that the the trends in sectoral composition of Haryana GSDP show that the share of Primary sector, Secondary sector and Tertiary sector in GSDP are likely to be 19.6 percent, 29.7 percent and 50.7 percent respectively in 2022-23.
Haryana’s per capita income likely to be Rs 2,96,685 in the year 2022-23
While presenting the budget, Sh. Manohar Lal said that the national per capita income at current prices was Rs 86,647 in 2014-15, which is likely to increase to Rs 1,70,620 in 2022-23, whereas for Haryana, it has increased from Rs 1,47,382 in 2014-15 to Rs 2,96,685 in 2022-23.
He informed that in budget estimates 2023-24, revenue receipt at Rs 1,09,122 crore, comprising of tax revenue of Rs 75716 crore and Rs 12651 crore as non-tax revenue have been projected. In tax revenue receipt, GST, VAT, Excise and stamp and registration are the major sources of revenue receipt. The share of central tax is Rs 11,164 crore and grant-in-aid is Rs 9,590 crore. Besides this, capital receipt of Rs 71173 crore have been projected.
Fiscal Deficit of GSDP is 2.96
The Finance Minister said that Haryana has always remained successful to maintain the fiscal parameters within the norms stipulated by the Central Finance Commission and Government of India. Fiscal deficit has been contained at 3.29 percent of GSDP in Revised Estimates (RE) 2022-23 as against the permissible limit of 3.5 percent of GSDP. For 2023-24, fiscal deficit of 2.96 percent of GSDP is projected which is within the allowed limit.
Sh. Manohar Lal said that the overall debt stock has also been successfully contained within the prescribed limit. The debt to GSDP ratio in RE 2022-23 is 25.78 percent as against the limit of 33.3 percent of GSDP. For 2022-23 debt stock is projected at 25.45 percent of GSDP, much below the stipulated norms of 33.1 percent of GSDP. We will continue to exercise fiscal prudence as this is the only path to sustainable economic development, said the Finance Minister.
