Jai Ram presents tax-free budget in Himachal
With 25 new schemes, the budget estimate is around 11% higher than what was for the 2019-20 fiscal.
Himachal Pradesh chief minister Jai Ram Thakur, who also holds the finance portfolio, presented a ₹49,131-crore tax-free budget in the state assembly on Friday. With 25 new schemes, the budget estimate is around 11% higher than what was for the 2019-20 fiscal.
A sixth, ₹8,352 crore, of the budget or around 17% has gone to education sector and as much (₹8,353 crore) will go for interest payment and debt servicing of the budget.
“The guiding principle of the budget is ‘Sabka Saath, Sabka Vikas, Sabka Vishwas’ which will be the spirit in the coming years also. Priority has been given to agriculture, horticulture and allied sectors to supplement rural incomes,” said the chief minister, who presented his third budget, adding.
Total revenue receipts are estimated to be ₹38,439 crore, with the total revenue expenditure at ₹39,123 crore, with a revenue deficit of ₹684 crore. The fiscal deficit is estimated to be ₹7,272 crore, which is 4% of the Gross State Domestic Product (GSDP).
Estimates suggest 11% increase in revenue receipts from the state’s own sources in 2020-21, over 2019-20.
The per capita income of Himachal Pradesh is estimated at ₹1.95 lakh, ₹60,000-odd higher than the national figure. The CM added that the state has been ranked second after Kerala in the achievement of Sustainable Development Goals in ‘SDGs India Report 2019-20’ by the NITI Aayog.
An outlay of ₹7,900 crore has been proposed for the Annual Plan 2020-21, which is about 11% or ₹800 more than the allocation for ₹7,100 crore.