No upward revision of taxes in Haryana, says Capt Abhimanyu
Live: Haryana finance minister presents budgetchandigarh Updated: Mar 17, 2015 12:33 IST
Haryana finance minister Capt Abhimanyu on Tuesday presented Khattar government's first budget in Chandigarh.
Plan outlay of Rs 25743 crore proposed in Haryana budget for 2015-2016 as compared to Rs 21521 crore in 2014-15( excluding state public sector enterprises and local bodies).
Revenue deficit jumps from estimated Rs 5200 crore to Rs 9449 crore for 2014-15 financial year.
Revenue deficit for 2015-16 pegged at Rs 9557 crore.
Finance minister announces removing value added tax (VAT) on bio fertilizer, reduction of VAT on LED lights, pipe fittings and prefabricated steel structures to 5 %. No upward revision of taxes.
Fiscal deficit estimated to be 3.46% of GSDP in 2014-15 and 3.14 % of GSDP in 2015-16, a cause of concern: FM P.PLAN outlay for social sector increased by 16 % in 2015-16 budget estimates.
Plan outlay for Health and Medical Education increased by about 14%, for Education increased by about 12%, for Women and Child Development increased by about 8% in 2015-16 budget estimates.
Capital expenditure to increase by about 11 % and revenue expenditure by 12% in 2015-16 financial year.
Capt Abhimanyu says revenue receipts will increase by about 15% in 2015-16 financial year.