On February 24, 2024, the Chief Minister of Himachal Pradesh (HP), who also holds the finance portfolio, presented budget estimates of Rs 58,444 crore for the Financial Year 2024-25 (FY25).
- It is 9.1% higher than the budget of Rs 53,413 crore in FY24.
- The government did not propose any new tax for FY25.
- It was a rural-oriented Budget focused on strengthening farming and animal husbandry sectors, and to make the HP self-reliant.
Financial Indicators:
i.Total estimated receipts for FY25 is Rs 61438.71 crore.
ii.Total estimated expenditure for FY25 is Rs 58443.61 crore.
iv.The fiscal deficit is estimated at Rs 10,784 crore which is 4.75% of the Gross State Domestic Product (GSDP).
v.For FY24, the state government pegged growth at 7.1%, with GSDP estimated as Rs 207,430 crore. The annual per capita income is estimated at Rs 235,199.
Agriculture Initiatives:
i.The State Government to procure 20 quintals of naturally grown grains per family at Minimum Support Price (MSP) rates: Rs 40 per kg for grains, Rs 30 per kg for maize.
ii.Rajiv Gandhi Prakritik Kheti Yojana will be launched to train 36,000 farmers in natural farming techniques.
iii.There will be hike in MSP of cow milk from Rs 38 to Rs 45 per litre and buffalo milk from Rs 47 to Rs 55 per litre.
- Himachal is the first state to give MSP on milk.
iv.There will be waiver of liabilities for milk cooperative societies; Rs 150 crore allocated for milk infrastructure.
v.There will be establishment of 2,500 agricultural clusters over 3 to 5 years via HP Agriculture Mission to focus on high-value crops and coarse grains production boost.
Other Initiatives :
- Financial assistance for fish farmers will be given to construct new ponds in 20-hectare area with 80% subsidy.
- Commissioning of largest solar power project (32 Mega Watt/MW) at Pekhubella by March 2024; Aghlor Solar Power Project (10 MW) in Una by June 2024; Bhanjal Solar Power Project (5 MW) in Una by September 2024.
- Out of the total 16 proposed heliports in the state, nine heliports — Jaskot in Hamirpur; Rakkar and Palampur in Kangra; Sultanpur in Chamba; Aaloo Ground, Manali in Kullu; Sharbo in Kinnaur; and, Jispa, Sissu and Rangrik in Lahaul-Spiti will be developed in the first phase.
- Chandratal, Kaza and Tandi in Lahaul-Spiti and Rackchham and Nako – Chango – Khab in Kinnaur will be developed as tourist destinations.
- Construction of Sky Walk Bridge in Haasan Valley near Kufri.
- Increase in daily wages of MGNREGA workers from Rs 240 to Rs 300 per day.
- Proposed increase in MLA discretionary grant to Rs 14 lakh and Vidhayak Kshetra Vikas Nidhi Yojana to Rs 2.20 crore.
- Government announced a Rs 10 crore Bhed Bakri Protsahan Yojna scheme.
Key Allocations:
i.State Government plans Rs 9,990 crores for FY25 state development budget.
ii.Allocation of Rs 2,516 crore for Scheduled Caste Development Programme, Rs 899 crore for Tribal Development Programme, and Rs 110 crore for Backward Area Development Programme.
iii.Rs 5,280 crore proposed for central schemes.
iv.Rs 9,560 crore allotted for education, Rs 582 crore for agriculture, and Rs 531 crore for horticulture.
v.There will be establishment of 75 new irrigation schemes.
vi.Creation of Centre of Excellence in Horticulture for comprehensive support.
vii.Installation of state-of-the-art fruit processing units.
Recent Related News:
i.The HP Cabinet meeting, chaired by Chief Minister (CM) Thakur Sukhvinder Singh Sukhu, approved ‘Van Mitra’ Scheme, a community based forest conservation scheme.
ii.HP CM launched Mukhyamantri Sukh Ashraya Yojana’ at the Ridge in Shimla (Himachal Pradesh) to provide comprehensive support to orphans, specially-abled children, destitute women, and elderly individuals in HP With this scheme, Himachal Pradesh became the first state in India to enact a law aimed at supporting orphan children and other vulnerable sections of society.
About Himachal Pradesh (HP):
Chief Minister– Sukhvinder Singh Sukhu
Governor– Shiv Pratap Shukla
National Parks– Great Himalayan National Park, Pin Valley National Park
Wildlife Sanctuaries– Bandli Wildlife Sanctuary , Chail Wildlife Sanctuary
