The State Finance Minister Prakash Pant presented a Budget of Rs45585.09 crore in the State Assembly at Bharadisain on Thursday.
The Budget estimates are 14.08 per cent higher than the last year, and like last year no new tax was imposed by the Minister. Amid thumping of desks by treasury benches, the Finance Minister said that the Budget would provide direction for ‘ease of doing’ and ‘ease of living’, which are the guiding principles of the Government.
The Minister said that better financial management has ensured that the gross domestic product ( GDP) of the State for the year 2017-18 is estimated at Rs217609 crore which is Rs 22003 crore more than the year 2016-17. The Minister informed that a growth of 6.77 per cent is estimated in the GDP which at Rs 1,77,356 (first advanced estimates for 2017-18) is Rs65,574 more than national average. The Minister reiterated the commitment of his government for fulfilment of sustainable development goals of United Nations.
The Finance Minister proposed a budget of Rs966.68 crore for the agriculture sector. In the horticulture department an allocation of Rs 311.23 crore while an allocation of Rs 7701.61 crore was made in the education sector which is 14 per cent more than last year. In health sector the government has made a provision of Rs 2286 crore.
While presenting the Budget the Minister said that the estimated revenue receipts for the year 2018-19 are Rs 35660 crore. He said that the tax receipts for the year was estimated at Rs20893.76 crore in the FY 2017-18 and they are expected to increase by 11.30 per cent in the coming FY.
The estimated capital receipts for the year 2018-19 are Rs 9542.9 crore. In the budget the total expenditure for the FY 2018-19 is expected to be at Rs 45585.08 crore.
The Minister said that a provision for establishment of E -assembly has been made in the budget. Similarly arrangements have been made for establishment of International Parliamentary Study Research and Training Institute in Gairsain in the budget. Pant made a provision of Rs30 crore for providing uniforms to the Bhojan Matas. In the budget speech the minister said that an accident insurance scheme for ASHA workers has been made. A provision of Rs40 crore has been made for externally aided projects under the department of drinking water.
For Metro rail project a provision of Rs86 crore has been made while for National Crèche scheme a provision of Rs 3.70 crore has been made. In the budget the minister has allocated a sum of Rs11.3715 crore under the Aam Aadami Bima Yojana for the head of the family which is below poverty line (BPl).
Under Deen Dayal Upadhyay Cooperative Farmers Welfare Scheme a sum of Rs30 crore has been allocated for providing loan to the farmers. For providing pre training to the youths for competitive examinations like NDA, IMA and OTA, a new scheme was announced by the finance minister under the soldier welfare department. For prevention of maternal and child malnutrition a provision of Rs10.25 crore was made in budget under national nutrition mission. In the budget speech the minister said that trauma centres, ICU and blood banks would be established in all the districts. Further, Uttarakhand Ayush Research Institute would be set up for promoting Ayush. For Song dam project a sum of Rs40 crore was allocated in the budget while Rs50 crore has been provided for revival of the Naini lake in Nainital.
To attract entrepreneurs for investment in Uttarakhand an arrangement of Rs25 crore has been made for organising international fair- Destination Uttarakhand. In the budget the minister also made an allotment of Rs15 crore for establishment Growth Centre which will help in increasing entrepreneurship, employment opportunities and check migration in mountainous areas of the state.
In the Budget, a provision of Rs30 crore was made for externally aided projects under MSME department. To increase regional connectivity a provision of Rs10 crore was made under UDAN scheme. For construction of registration office cum transit camp an allotment of Rs seven crore was made in the Budget. To provide employment to local residents a provision of Rs 15 crore was made under home stay scheme. Similarly Rs20 crore has been allocated for externally assisted projects under Department of Horticulture. The minister informed in his budget speech that the World Bank has made a provision of Rs975 crore for the department of drinking water. Similarly, an approval of Rs 840 crore has been accorded for externally aided schemes. The minister informed the house that under the urban development department a consent of Rs1500 crore has been received for the new externally aided projects.
One of the highlights of the Budget is that it is a statement of profit with an estimated revenue surplus of Rs32.69 crore. However a fiscal deficit of Rs6710.20 crore is estimated which according to the finance minister is well within the limits prescribed in the Fiscal Responsibility and Budget Management Act.