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Haryana CM Manohar Lal Khattar Presents Tax-free Budget for FY24 with Rs 1,83,950 crore Outlay

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Haryana CM Manohar Lal Khattar presents Rs 1,83,950-crore budget

On February 23, 2023, Chief Minister of Haryana Manohar Lal Khattar presented a tax-free state budget for financial year 2023-24 (FY24) with an outlay of Rs 1,83,950 crore, an increase of 11.6% from FY23 Budget of Rs 1,64,808 crore.

  • The budget was focused on agriculture, rural development, education, and health
  • No proposal was imposed for new tax.

Key Points:

i.Rs 57,879 crore was proposed under the budget for expenditure on capital asset creation, representing 31.5% and Rs 1,26,071 crore on revenue expenditure representing 68.5%.

ii.Revenue receipt was projected at Rs 1,09,122 crore, and Capital receipt was projected at Rs 71,173 crore.

  • Revenue receipts include the tax revenue of Rs 75,716 crore and non-tax revenue of Rs 12,651 crore.
  • In tax revenue receipt, GST (Goods and Services Tax), VAT (Value-Added Tax), Excise and stamp and registration are the major sources of revenue receipt. The share of central tax is Rs 11,164 crore and grant-in-aid is Rs 9,590 crore.

iii.Fiscal Deficit: In Revised Estimates 2022-23 (RE FY23), the fiscal deficit was about 3.29% of Gross State Domestic Product (GSDP) as against the permissible limit of 3.5% of GSDP. The fiscal deficit for FY24 was projected at 2.96% of GSDP.

Proposals and Allocation under the budget:

i.The old-age pension was proposed to be increased from Rs 2,500 to Rs 2,750 per month from April 1, 2023.

ii.The CHIRAYU-Ayushman Bharat Yojana was extended for families with annual income up to Rs 3 lakh.

iii.Rs 250 crore was allocated for offering skill-training to 2 lakh youth

iv.The budget also ensured an increase in eligibility income from Rs 2 lakh to Rs 3 lakh.

v.Rs 200 crore has been allocated to start Venture-capital fund, which will support the youngsters to launch their startups worth Rs 5 crore.

vi.The provision for the Haryana Gau Sewa Aayog was increased to Rs 400 crore in 2023-24 from the present allocation of Rs 40 crore.

vii.The budget also proposed to continue the inclusion of Haryana Parivar Suraksha Nyas and one lakh houses for Antyodaya families.

viii.e-libraries were planned to be set up in rural areas at a cost of Rs 370 crore.

New initiatives:

i.Manohar Lal Khattar announced a proposal of creating a Chief Minister fund for financial support to women startup entrepreneurs or those who come from families with an annual income of up to Rs 1.80 lahks.

ii.In FY24 for the adoption of natural farming, the government has set a target of 20,000 acres of which demonstrations were planned to be laid out over 6,000 acres.

iii.The state also maps every child in the age group 6 to 18 years to ensure that no child remains deprived of educational opportunities.

iv.The National level Scientific Training and Rehabilitation Centre for Sports (STRCS) will be set up to assist sportspersons.

v.A 700-bed multispeciality hospital will be set up in Gurgaon and nursing and paramedical colleges will be established in 11 districts.

vi.The state government plans to set up Hi-tech Veterinary dispensaries in Gurgaon and Faridabad and also 70 mobile veterinary centres.

vii.Three new metro links have been proposed such as Rezang la chowk to IGI international airport; Southern Peripheral Road to Pachgaon via global city and Manesar; Asodha to Bahadurgarh to connect Haryana Orbital Rail Network with KMP expressway.

Recent Related News:

The 4th edition of Khelo India Youth Games (KIYG) 2021 was hosted by Haryana at the Tau Devi Lal Stadium in Panchkula, Haryana from June 4-13 2022. It was inaugurated by the Union Minister Amit Shah, Ministry of Home Affairs (MHA) in the presence of Haryana Chief Minister (CM) Manohar Lal Khattar and Union Minister Anurag Thakur, Ministry of Youth Affairs and Sports (MoYAS), among others.

About Haryana:

Governor – Bandaru Dattatreya
Zoological park – Mini Zoo and Rohtak Zoo
Wildlife Sanctuary – Chhilchhila Wildlife Sanctuary, Nahar Wildlife Sanctuary