No new taxes have been proposed in the Haryana Government’s Budget for 2016-17, despite the additional burden of the financial rescue package for power distribution companies and implementation of the pay commission
recommendations.
The total Budget estimate of Rs 69,140 crore for 2015-16 is proposed to be increased by 28 per cent to Rs 88,782 crore in 2016-17.
Presenting his second Budget in the Haryana Vidhan Sabha on Monday, Finance Minister Capt Abhimanyu proposed to cut tax from 12.5 per cent to five per cent on sale of electrical vehicles. This and various other tax concessions will entail a loss of about Rs 50 cr to the exchequer.
Relief in respect of tax, interest, penalty and other dues to registered dealers whose goods were lost or destroyed in the recent Jat reservation agitation has also been included in the Budget.
The projected revenue deficit for the fiscal 2016-17 has been put at Rs 12280.35 crore while it was projected at Rs 9557.52 crore in 2015-16. The fiscal deficit has been put at Rs 25115.96 or 2.47 per cent of the GSDP while it was projected at 16423.58 crore in the ongoing fiscal year.
While talking to the mediapersons, the Finance Minister after presenting the Budget said the Budget focused on creation of maximum employment opportunities. The Budget will prove a step forward in shaping the future of the State.
He said the Government would also lay emphasis on strengthening of infrastructure which would be the best in next few years and Haryana would have the highest per capita
connectivity.
The Finance Minister added that the State Government will chalk out a scheme to provide relief to the dealers who suffered losses during the Jat agitation last month.