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Rajasthan Finance Minister Diya Kumari presented State Budget for FY25- An Overview

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Rajasthan Finance Minister Diya Kumari presents state budget for FY2024-25On July 10, 2024, Diya Kumari, Finance Minister and Deputy Chief Minister (Dy CM) of Rajasthan, presented the Rajasthan State Annual Budget for financial year 2024-25 (FY25) during the State Legislative Assembly Session, in Jaipur, Rajasthan.

  • It aims to transform Rajasthan into a USD 350 billion economy as part of the action plan for ‘Developed Rajasthan @ 2047’.
  • It should be noted that she presented her Vote on Account (Interim Budget) on 8th February 2024.

Rajasthan Budget 2024:

  • Diya Kumari presented the state budget 2024-25 in the assembly, with an outlay of Rs 4.95 lakh crore for FY25.
  • In the full budget for the financial year 2024-25, the government has estimated a revenue receipt at Rs 2.64 lakh crore, revenue expenditure at Rs 2.90 lakh crore and revenue deficit at Rs 25,258 crore.
    The fiscal deficit is estimated at 3.93 per cent of the GSDP (Gross State Domestic Product).

Development of Jaipur:

i.The budget allocates Rs 100 crore for the development of Jaipur.

  • There will be construction of ‘Rajasthan Mandapam’ in Jaipur, on the lines Bharat Mandapam in Delhi.

ii.Rs 1,100 crore is allocated for the construction of the longest elevated road in Jaipur, which will be approximately 9 km long and connect Ambedkar Circle to Jawahar Circle.

iii.Rs 200 crore is allocated for the establishment of the Amrit Global Technology and Application Center in Jaipur.

iv.Rs 100 crore is sanctioned for the development and maintenance of historical monuments and sites within Jaipur’s Walled City, which has bagged the UNESCO (United Nations Educational, Scientific and Cultural Organization) World Heritage City tag.

v.Rs 200 crore is allocated for the establishment of the PM Unity Mall in Jaipur, which will host industrial meets, seminars, and exhibitions related to trade and commerce.

Infrastructure development:

i.Rs 60,000 crore is set aside for new road projects across Rajasthan.

ii.Nine Greenfield Expressways, covering more than 2,750 km, will be built for the first time with a Detailed Project Report (DPR) costing Rs 30 crore.

  • These expressways include: Jaipur-Kishangarh, Ajmer, and Jodhpur (350 km); Kotputli-Kishangarh (181 km); Jaipur-Bhilwara (193 km); Bikaner-Kotputli (295 km); Beawar-Bharatpur (342 km); Jalore-Jhalawar (402 km); Ajmer-Banswara (358 km); Jaipur-Phalodi (342 km); and Sri Ganganagar-Kotputli (290 km).

iii.Ropeways will be constructed at Amer, Jaigarh, and Nahargarh forts;

iv.New terminal will be constructed at Jaipur airport to increase capacity from 50 lakh to 70 lakh passengers annually.

Key Allocations:

i.Health Sector: A total of Rs 27,660 crore, representing 8.2% of the state’s total budget, is dedicated to the health sector, and launch of Rajasthan Digital Health Mission.

  • A handicraft park and spinal injury centre will be set up in Jodhpur.

ii.Water Related projects:

  • Rs 20,370 crore is designated for 6 projects under the Jal Jeevan Mission (JJM), benefiting 5,846 villages.
  • Rs 187 crore is allocated for various small projects to enhance drinking water supply.
  • Rs 15,000 crore is allocated to provide tap water to 25 lakh rural houses.
  • The government will install 20 hand pumps in every assembly constituency in Rajasthan.
  • Rs 5,180 crore has been announced for dditional drinking water works for 183 cities and towns under the Atal Mission for Rejuvenation and Urban Transformation (AMRUT) 2.0 scheme.

iii.Khatu Shyam Temple Corridor: Rs 100 crore is allocated for the development of the corridor at Khatu Shyam temple.

iv.Women’s Sanitation Facilities: The budget includes Rs 17 crore for the construction of 67 bio-pink toilets to enhance privacy, security, and sanitation for women.

v.Waste Management: A budget of Rs 650 crore has been set aside to establish 71 solid waste processing plants in urban areas, create 131 legacy waste management centers, and implement vehicle tracking systems and Radio-Frequency Identification (RFID) technology to enhance the efficiency of waste collection and management.

vi.Jobs for youth:

i.The Rajasthan Government is planning to fill 400,000 job vacancies over 5 years.

ii.The government also announced create a youth policy and several other measures for youth including introducing ‘Rajasthan Youth Icon Award’ to recognise young achievers.

vii.Power & Energy:

i.There will be Model Solar Village in every district, 2 MW (Mega Watt) Decentralized Solar Plant, solar energy for all government offices

ii.Renewable energy generation target has been raised to 33600 MW.

viii.Benefits for farmers:

i.The Budget also proposed to provide interest-free loans for 5 lakh new farmers, and 145,000 electricity connections will also be provided to the farmers for agriculture related activities.

ii.The Minimum Support Price (MSP) for wheat is increased by Rs 125.

Noted Announcements:

i.Introduction of New Industrial Policy 2024 and a New Export Promotion Policy, 2024.

ii.Baba Saheb Ambedkar Adarsh Gram Yojana announced for overall development of villages with a population of 10,000.

iii.Sports Policy 2024 will be introduced in the state to encourage sportspersons. Along with this, academies will be opened for sports in every district

  • Launch of a sports life insurance scheme for medal-winning athletes, providing a cover of Rs 25 lakh.

iv.There will be reduction on VAT (Value Added Tax) on CNG (Compressed Natural Gas) and piped natural gas from 14.5% to 10%.

Electricity connections will be provided to 208,000 houses in the next two years.

v.There will be introduction of ‘One District, One Policy’ to boost the vocal for local initiative, to support domestic products.

vi.Defense manufacturing hub and a new data center policy will be established.

There will be Purchase of 500 roadways buses and 300 electric buses, with 800 additional buses on a service model.

vii.Under the Lakhpati Didi Scheme, 15 lakh women will be uplifted to the Lakhpati Didi category

Recent Related News:

i.The Indian Army and the Defence Research and Development Organisation(DRDO) successfully conducted the warhead flight trials of the Man Portable Anti-tank Guided Missile (MPATGM) Weapon System at the Pokhran Field Firing Range(PFFR) in Jaisalmer district, Rajasthan.

ii.Atul Bodkhe, Daryapur-based arachnologist has identified a new green lynx spider species named Peucetia chhaparajnirvin from Tal Chhapar Wildlife Sanctuary in Churu District, Rajasthan.The new species was named “chhaparajnirvin “ after the Tal Chhapar where it was discovered by Nirmala Kumari and Vinod Kumari.

About Rajasthan:
Chief Minister (CM)– Bhajan Lal Sharma
Governor– Kalraj Mishra
Wildlife Sanctuary – Kaila Devi Sanctuary, Ramgarh Vishdhari Sanctuary