Haryana Presents Over Rs 1,02,329.35 crore Budget for FY 2017-18 in State Assembly

The Haryana Finance Minister Captain Abhimanyu presented the proposed budget of Rs 1,02,329.35 crore for the fiscal 2017-18 on March 6, 2017 in the state assembly.

• Nine priority areas: Agriculture, rural development, urban development, infrastructure, education, IT governance, health, women empowerment, development of youth and culture
• The state government has not included any new tax and has classified the budget as Revenue and Expenditure budget instead of Planned and non-Planned budget.
• The Haryana Budget Session is going in Haryana Assembly (Vidhan Sabha) and will continue up to March 10, 2017.

Key Highlights of the Budget

Rs 9,041.59 (13.18 percent) more than previous year’s budget.

• 21.88 percent Capital Expenditure of Rs 22,393.51 crore and 78.12 percent as Revenue Expenditure of Rs 79,935.84 crore.
• In 2016-17, Gross State Domestic Product (GSDP) is growing at 8.7 percent and is expected to rebound to 9 percent plus growth in 2017-18.
• As per the minister, the fiscal deficit has remained within the stipulated limit of 3 per cent of GSDP prescribed by the Fourteenth Finance Commission for the states.
• In 2016-17, it is expected to be 2.49 percent of GSDP while for 2017-18 it is likely to be in the range of 2.61 (without UDAY) to 2.84 percent (with UDAY) of GSDP
• In 2017-18 Budget Estimates, Total Revenue Receipts (TRR) is projected to increase by 14.06 percent at Rs Rs 69,327.09 crore of which tax receipt is Rs 45,087.63 crore and non-tax receipt Rs 15,239.46 crore.
• Liquor prices are set to go up in Haryana. The Haryana government has increased Value Added Tax (VAT) and excise duty on liquor from April 2017.

Sector wise Allocation

• Agriculture: Rs 12,784 crore
• Rural development: Rs 4,963 crore
• Education: Rs 15,546 crore
• Health: Rs 3,839 crore
• Industry: Rs 400 crore
• Women and child development and Social Welfare of SCs and STs: Rs 6,859 crore
• Power: Rs 12,685 crore
• Public health engineering: Rs 3,382 crore
• Urban development: Rs 4,973 crore
• District plan: Rs 400 crore
• Transport: Rs 2,549 crore
• Buildings and roads: Rs 3,827 crore

New Schemes

• Deenbandhu Haryana Gram Uday Yojana: Develop 1,500 villages with populations between 3,000 and 10,000 to be implemented in three years with an outlay of Rs 5,000 crore. The scheme is funded by NABARD and during the current fiscal Rs 1,200 crore to be spent.
• Mangal Nagar Vikas Yogna to be implemented with outlay of Rs 1,000 crore for maintenance of existing infrastructure.
• Saksham Scheme to provide up to Rs 9,000 earning potential for unemployed youth
• 5 percent rebate for use of the Bhim app