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Haryana Proposes tax Free State Budget for 2016-17

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The Haryana government proposed a tax free budget for the financial year 2016-17. Its focus was mainly in rural development and it also proposed relief to the riot-hit traders.

Features

  • Budget increased 4 per cent to Rs 88,781.96 crore in 2016-17
  • Fiscal deficit has been pegged at 47 per cent of GSDP (without UDAY) in 2016-17
  • TRR is projected at Rs 62,955.53 crore, of which tax revenue is Rs 46,388.31 crore and non-tax revenue is Rs 16,567.22 croreHaryana

Allocations to various sectors

  • Agriculture and allied sector- Rs 13,494 crore
  • Rural development and panchayats- Rs 2,824.47 crore
  • Education sector- Rs 14,305.34 crore
  • Health and family welfare- Rs 3,916.94 crore
  • For development of industries and minerals-80 crore
  • Social welfare, nutrition, and welfare of scheduled castes (SCs) and backward castes – Rs 6,189.87 crore (BCs)
  • Power sector- Rs 16,826.70 crore
  • Urban development- Rs 3,645.86 crore
  • Transport sector, Rs 2,464 crore has been made while Rs 4,485.11 crore has been proposed for building and roads sector.
  • For welfare of Schedule Castes under SCSP- Rs 6,373.48 crore

Tax reductions

  • Tax cut on footwears, with MRP of above Rs 500, from 5 per cent to 5 per cent and exempt shoe uppers from VAT
  • Tax exemption has been proposed on ‘Khal’, ‘Binola’, ‘Besan’ and cotton yarn manufactured in the state
  • Reduction of tax from 5 per cent to 5 per cent on the sale of electrical vehicles
  • An amnesty scheme, granting relief in respect of tax, interest, penalty and other dues to the affected registered dealers whose goods were lost or destroyed in the riot

Points to note

  • Haryana CM- Manohar Lal Khattar
  • Finance minister- Abhimanyu