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 crore
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
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