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HindustanTimes Sun,21 Dec 2014

CM presents Rs. 731cr revenue surplus budget

HT Correspondent  Jaipur, February 21, 2014
First Published: 15:36 IST(21/2/2014) | Last Updated: 15:49 IST(21/2/2014)

In a scathing attack on the opposition, chief minister Vasundhara Raje on Thursday blamed the previous Gehlot led Congress government for fiscal indiscipline while presenting a revenue surplus budget of `731.75 crore with a planned outlay of `46,989 crore for next fiscal, which is 16.02 per cent more than approved outlay of 2013-14.

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Presenting the vote-on-account for year 2014-15, Raje, who also holds finance portfolio, said in the house that previous government has misguided the state by putting wrong estimates by showing a revenue surplus and lower fiscal deficit.

Raje told the house that Gehlot government in September 2013 announced various scheme hurriedly and gave additional authorisation of `14,000 crore which has led to wiping out of revenue surplus this year.  

“It is unfortunate that this year Rajasthan would remain in revenue deficit and fiscal deficit will also increase to 3.56% of Gross State Domestic Product (GSDP). Due to this we would not be able to reach the targets under Fiscal Responsibility and Budget Management Ac and are set to lose `172 crore rebate on loans under National Small Saving Fund (NSSF),” Raje
said.

Raje said that Gehlot government in 2013-14 set aside a budget of `710 crore for social pension schemes and had declared additional funding of `1500 crore. If the additional funds would have provisioned in budget itself the revenue surplus of`1025 crore declared by Gehlot government would have become a deficit of `475 crore.

“Additional authorization of `1465 crore were approved last years in name of pension scheme which amounted to `2175 crore for the scheme while the total fund incurred in schemes is pegged at `2540 crore which we had to include in our revised estimates.” Raje said.  

Detailing the budget estimations Raje announced a budget of `1,12,955 crore for year 2014-15 with estimated revenue surplus of `731.75 crore by the end of the financial year. Fiscal deficit of `16,355 crore is also been estimated for 2014-15 which is expected to be 2.86% of GSDP. The plan outlay for the state is estimated to be at `46,989 crore. 

“The debt-GSDP ratio is expected to be 25.73% in year 2014-15. Strengthening of social and economic infrastructure is our priority and we are working to achieve this target. Producing 25000MW solar power, a network of 20000KM roads namely east-west corridors and ensuring water supply to 20000 underserved and problematic villages will be our priority. All the individual social welfare schemes will be implemented under umbrella of Bhamashah scheme.” Raje said.


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