In its report tabled in the Budget session of the Haryana Assembly, the Comptroller and Auditor General (CAG) has sounded alarm bells on the fiscal position of Haryana saying it was not sound.
Onkar Nath, Principal Accountant general (Audit) told The Pioneer that Fiscal, Revenue and Primary deficit at the end of year 2011-12 stood at Rs1,457 crore, Rs7,153 crore and Rs3,152 crores respectively.
States’ own tax revenue fall short by 1.70 per cent of targets fixed for 2010-11 by fiscal correction path (FCP) but was higher by 1.13 per cent and two per cent of the target fixed by Thirteenth Finance Commission and State Government’s Medium Term Fiscal Planning Statement (MTFPS) respectively.
On expenditure front, the total revenue and capital expenditure including loans and advances, increased from Rs33,063 crore in 2010-11 to Rs38,014 crore in 2011-12 registering an increase of 15 per cent. Revenue expenditure constituted 84 per cent of total expenditure during 2011-12.
However, the Capital expenditure (excluding loans and advances) which was only 14 per cent of total expenditure increased by 33 per cent from Rs4,031 crore in 2009-10 to Rs5,372 crore in 2011-12.
Ironically, in Non-developmental expenditure, huge expenditure on salaries (Rs9,960 crore), pensions (Rs3,204 crore), interest payments (Rs4,001 crore) and subsidies (Rs3,853 crore) during the current year consumed 56 per cent of revenue receipts against 52 per cent projected in the FCP.