The Manohar lal Khattar-led Haryana Government has proposed no fresh tax in its fourth Budget for 2018-19, while keeping its size at Rs 1.15 lakh crore with focus on raising expenditure in key sectors including agriculture, education, health, industry and skill development.
The budget also proposed to reduce the rate of value added tax on sale of natural gas from 12.5 per cent to six per cent.
Presenting the state budget fourth year in a row in the state assembly here, Haryana Finance Minister Captain Abhimanyu on Friday said that the present government is seeking to turn Haryana as model state in terms of fiscal management.
The Finance Minister tabled budget with total size of Rs 1,15,198.29 crore, a jump of 12.6 per cent over the budget estimates of Rs 1,02,329.35 crore during last fiscal, and 14.4 per cent over revised estimates of Rs 1,00,739.38 crore of 2017-18.
The budget outlay comprises 26.1 per cent as capital expenditure of Rs 30,012 crore, and 73.9 per cent as revenue expenditure of Rs 85,187 crore, said Abhimanyu in his 96-minute budget speech.
Among tax revenue, Capt. Abhimanyu proposed mobilisation from GST, VAT, excise duty and stamp and registration at Rs 23,760 crore, Rs 11,444 crore, Rs 6,000 crore and Rs 4,500 crore, respectively, in next fiscal. The revenue deficit has been projected at Rs 8,253.51 crore for 2018-19 as against revised estimates Rs 8,226.17 crore for 2017-18 while the fiscal deficit is projected at Rs 19,399.34 crore as against Rs 17,240.45 crore in 2017-18.
The debt liability in the state budget has been estimated at Rs 1,61,159 crore for 2018-19 in comparison to revised estimates of Rs 1,41,792 crore in 2017-18.
The Finance Minister said the fiscal deficit which has remained within the stipulated limit of three per cent of GSDP, is likely to be 2.82 per cent of the GSDP in 2018-19.
Expressing government’s commitment of constructing Sutlej Yamuna link (SYl) canal to get its rightful share of water of Ravi-Beas, the minister proposed to allocate Rs 100 crore, informing the house that "for construction of SYl canal even if Rs 1,000 crore is required, we will provide the same".
In the last budget also, Rs 100 crore was allocated for SYl canal.
Among the sectoral allocations in the budget, the Minister proposed 51.22 per cent increase in the outlay for agriculture and allied activities from Rs 2,709.69 crore in 2017-18 to Rs 4,097.46 crore in 2018-19.
Asserting that objective of inclusive growth is incomplete unless it percolates to poor, Capt. Abhimanyu said that Rs 8,078.45 crore has been earmarked for welfare of scheduled castes.
Hailing the budget 2018-19, Chief Minister Manohar lal Khattar said that the budget will further propel growth, make it inclusive, push employment, and turn farming into a more remunerative proposition.