There has been no new tax in the Rs 1.77 lakh crore Budget, presented by the Haryana government on Tuesday which has emphasis on economic growth, ease of living for citizens and initiatives for women.
Chief Minister Manohar Lal Khattar, who also has the Finance Department under him, said it lays emphasis on spurring growth through increased infrastructure investment. The Budget envisioned five developmental forces through the ‘Vajra Model’ for enhanced economic growth and human development, ease of living for citizens, lifting the poor and disadvantaged from all socioeconomic groups, leveraging productivity through increased adoption of technology accompanied by employment and entrepreneurship.
Among its focus areas are initiatives for women to boost infrastructure, agriculture and overall growth.
Khattar proposed a Budget of Rs 1,77,255.99 crore for the financial year 2022-23, a rise of 15.6 per cent over the Budget size of Rs 1,53,384 crore in 2021-22. The Budget outlay comprises 34.4 per cent as capital expenditure at Rs 61,057.36 crore and 65.6 per cent as revenue expenditure at Rs 1,16,198.36 crore.The debt liability is likely to go up to Rs 2,43,779 crore in the financial year 2022-23, from Rs 2,23,768 crore as of March 2022.
In Budget Estimates (BE) 2022-23, the total revenue receipts are projected to be at Rs 1,06,424.70 crore. They comprise tax revenues of Rs 73,727.50 crore, non-tax revenues of Rs 12,205.86 crore, share of central taxes of Rs 8,925.98 crore and a grant-in-aid of Rs 11,565.86 crore. Besides this, capital receipts are projected to be Rs 5,393.89 crore. The fiscal deficit is estimated to be 2.99 per cent of GSDP in 2021-22 and for FY 2022-23, it is expected to be within the prescribed limit of 3.5 per cent by the 15th Finance Commission, at 2.98 per cent of GSDP as per BE for 2022-23.