Haryana Budget leaves Rs 202-cr deficit

chandigarh: barring a 20 per cent tax on online lotteries, a notification for which is to be issued separately, the haryana finance minister mr sampat singh yesterday presented a lacklustre 2002-03 annual budget here in the vidhan sabha, which leaves an uncovered gap of rs 202.20 crore. while the state taxes have been projected to grow at the rate of 11.5 per cent, the deficit which is claimed to be within a manageable limit is proposed to be contained, says mr singh, through resource mobilisation measures as well as economising efforts. the state government has also levied, with effect from august 1, 2001, a guarantee fee at the rate of 2 per cent on all borrowings of the state psus and boards. the receipts from these between rs 12 crore and rs 16 crore are to flow to the sinking fund proposed in the budget 2001-02. however, consultation with the reserve bank of india (rbi) are in progress to notify this fund as a public account fund. while the budget estimates for 2002-03 provide for a state plan outlay of rs 1,922.50 crore besides the expected outlay of rs 687.35 crore in centrally-sponsored schemes and other development plan schemes, the plan outlay is proposed to be funded by the state's own resources of the order of rs 1,466.44 crore (76.3 per cent) and by central assistance of rs 456.06 crore (23.7 per cent). the fiscal 2002-03 is likely to open with a deficit of rs 487.06 crore and will close with a deficit of rs 689.26 crore. thus, the year's net transactions will leave a deficit of rs 202.20 crore. the current year's plan itself has been downsized to rs 1,838.68 crore from the original rs 2,150 crore due to resource constraints. this has come about due to substantial decline in the central devolution to the state and increase in non-plan expenditure under various heads. the annual plan for 2002-03 projects a growth of 4.5 per cent over the current year's revised outlay. the budget lays stress on measures to give boost to new investment in infrastructure, industries and agriculture. likewise, infrastructure sectors of irrigation (rs 300 crore), power (rs 166.56 crore), roads and road transport (rs 335.20 crore) account for 42.13 per cent of the 2002-03 plan allocation. development in these sectors, however, will not be at the cost of social sectors for which an allocation of rs 710.90 crore has been made constituting 37.42 per cent of the total plan outlay. while agriculture gets direct funding of rs 50.75 crore, an allocation of rs 308 crore has been made for pension for the aged and widows.

Haryana Budget leaves Rs 202-cr deficit

CHANDIGARH: Barring a 20 per cent tax on online lotteries, a notification for which is to be issued separately, the Haryana finance minister Mr Sampat Singh yesterday presented a lacklustre 2002-03 annual Budget here in the Vidhan Sabha, which lea...

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