On 29th March 2023, the Legislative Assembly of Himachal Pradesh(HP) passed the Rs 56,683.69 annual budget for Financial year 2023-2024.
CM also introduced the related Himachal Pradesh Appropriation Bill 2023 in the state assembly, which was passed by voice note.
- With this, the government of HP is authorized to withdraw funds from the consolidated fund for the use during FY24.
Background:
i.On 17th March 2023, Sukhvinder Singh Sukhu, Chief Minister(CM) and Finance Minister of HP, presented his first budget for HP with an outlay of Rs 53,613 crore.
ii.After discussion on the demands for grants of the budget between the ruling party (Indian National Congress -INC) and the opposition(Bharatiya Janata Party – BJP) from 20th to 23rd March 2023, there has been an increase of Rs 3064.69 crore in the budget for FY24.
iii.The discussions were held on the cut motions brought by the opposition regarding various departments from 27th to 29th March 2023.
Highlights of HP’s FY24 Budget:
i.The FY24 budget reflects a revenue deficit of Rs 4,704 crore, while the estimated fiscal deficit is Rs 9,900 crore, which is 4.61% of the Gross State Domestic Product(GSDP).
ii.Revenue receipts for the HP Budget for FY24 are estimated to be at Rs 42,404 crore.
iii.The budget has an outlay of Rs 8,828 crore for education sector and Rs 3,139 crore for health sector.
iv.The CM also announced that the government aims to make Himachal Pradesh a ‘Green Energy State’ by 31st March 2026 by promoting hydropower and solar energy through the adoption of electric vehicles to check pollution.
Key Announcements:
i.CM announced that Rs 1500 per month will be paid to 2.31 lakh women who are getting pension at the rates of Rs 1000 and Rs 1150 per month.
- The government is set to spend around Rs 416 crore per year for this.
ii.An honorarium of Rs 4,000 for orphans under the Sukhashraya scheme.
- In January 2023,Chief Minister announced a scheme called ” Sukhashraya Sahayata Kosh ” with an outlay of Rs.101 crore for the destitute in Himachal Pradesh.
iii.He also announced that government has decided to withdraw from the defined contribution based National Pension System (NPS), and is set to restore the “Old Pension Scheme (OPS)” benefiting 1.36 lakh employees.
iv.National and State Highways connecting Parwanoo-Nalagarh-Una; Hamirpur-Amb-Nurpur; Paonta-Nahan-Shimla; Shimla-Bilaspur; Hamirpur-Chamba; Mandi-Pathankot; Manali-Keylong, will be developed as green corridors for electric vehicles to reduce emissions.
Recent Related News:
On 16th February 2023, the 2nd Meeting of the Himachal Pradesh cabinet chaired by Chief Minister(CM) Sukhvinder Singh Sukhu, approved the guidelines for ‘Mukhya Mantri Sukh-Ashray Yojana’ that covers Orphans, specially abled children, destitute women and senior citizens.
About Himachal Pradesh:
Chief Minister– Sukhvinder Singh Sukhu
Governor– Shiv Pratap Shukla
Wildlife Sanctuary– Kalatop-Khajjiar Wildlife Sanctuary; Kanawar Wildlife Sanctuary
Festivals– Basant Panchami; Lossar
