Haryana Budget 2023: No new taxes, thrust on agriculture, allocation for cow protection increased by 10 times

“Budget 2023-24 reflects the government’s firm commitment to substantially boost investment in agriculture, rural development, health and education for comprehensive socio-economic growth of the state. Special emphasis has been given to boost capital investment, as the share of the capital budget has been projected to be 31.5 per cent in fiscal 2023-24,” said Khattar, who also holds the finance portfolio.

“The government’s revenue receipts are anticipated to increase by 12.49 per cent in the budget estimate (BE) of 2023-24 to Rs 1,09,122.42 crore from Rs 97,002.48 crore in the revised estimate (RE) of 2022-23”, the budget document said.

On the macroeconomic and fiscal parameters, the budget document said, “Haryana, which was primarily an agrarian economy in 1966, has undergone a significant structural transformation. In 2022-23, the contribution from the primary sector stood at 19.6 per cent, the secondary sector at 29.7 per cent and the tertiary sector at 50.7 per cent. The government will continue to provide the necessary impetus to propel growth in the Secondary sector through the expansion of manufacturing activity and in the Primary sector through exploring new avenues for vertical growth and diversification of activities undertaken while continuing to focus on sustainability.”

Live: CM Shri @mlkhattar Presenting the State Budget https://t.co/R6wNqORYXQ

— CMO Haryana (@cmohry) February 23, 2023

It added, “The government’s commitment to promoting balanced economic growth across sectors has resulted in an annual compound growth of 5.62 per cent in GSDP from 2014-15 to 2022-23. As a result of prudent fiscal management, all fiscal parameters excluding the revenue deficit, have been brought within the limits prescribed by the 15th Finance Commission under the FRBM Act. The fiscal deficit has been projected at 3.29 per cent in RE 2022-23 against the permissible limit of 3.5 percent. In BE 2023-24, it has been estimated at 2.96 per cent, which is well under the 3.0 per cent limit under FRBM Act.”

The budget document said, “In BE 2023-24, the revenue deficit has been projected at 1.51 per cent against the 2022-23 RE of 1.81 per cent of the GSDP. The overall debt stock has been contained, with the debt to GSDP ratio remaining at 25.78 per cent for 2022-23 (RE) as against the limit of 33.3 per cent of GSDP prescribed by the Fifteenth Finance Commission. For the BE 2023-24 as well, the debt stock is expected to be much below the stipulated limit of 33.1 per cent of GSDP recommended by the 15th Finance Commission at 24.45 per cent of GSDP.”

हरियाणा का बजट… #HaryanaBudget23 pic.twitter.com/Z2qUzJ1maB

— Manohar Lal (@mlkhattar) February 23, 2023

About the state’s expenditures and focus sectors, the budget document said, “In BE 2023-24, the total expenditure has been projected to increase to Rs 1,83,949.97 crore from 1,64,807.84 crore in RE 2022-23, up by 11.61 per cent. Budget 2023-24 reflects the government’s firm commitment to substantially boost investment in agriculture, rural development, health and education for comprehensive socio-economic growth of the state. Special emphasis has been given to boost capital investment, as the share of the capital budget has been projected to be 31.5 per cent in fiscal 2023-24.”

The government’s revenue receipts are anticipated to increase by 12.49 per cent in BE 2023-24 to Rs 1,09,122.42 crore from Rs 97,002.48 crore in RE 2022-23.

यह बजट सरकार का नहीं बल्कि हरियाणा के हर एक अंत्योदय परिवार का है।

सर्वे भवन्तु सुखिनः, सर्वे सन्तु निरामया: …! pic.twitter.com/H6DwwPxn7j

— Manohar Lal (@mlkhattar) February 23, 2023

Talking about the budget for Gau Sewa Aayog, Khattar said, “We are committed to ensuring the care and protection of stray cows. The provision for the Haryana Gau Sewa Aayog has been increased from Rs 40 crore to Rs 400 crore. Gram panchayat land will be made available with the concurrence of the gram panchayats for new gaushalas registered with the Haryana Gau Sewa Aayog. The gaushalas will be linked to the GOBAR DHAN scheme, under which biogas plants would be constructed in every district.”

Income

Devolution from Centre – 11.51 per cent

Borrowings – 35.96 per cent

State’s tax revenue – 42 per cent

Non-tax revenue – 7.02 per cent

Other receipts – 3.51 per cent

Expenditure

Economic services – 24.13 per cent

Agriculture and allied services, including irrigation and subsidies – 11.80 per cent

Transport, civil aviation, roads and bridges – 4.30 per cent

rural development and panchayats – 3.95 per cent

others – 4.08 per cent

Social services – 30.51 per cent

Education – 10.97 per cent

Social welfare & nutrition – 6.79 per cent

Health & family welfare – 4.74 per cent

Public health engineering – 2.71 per cent

Others-5.30 per cent

General Services – 14.50 per cent

Administrative services – 5.77 per cent

Pension – 7.18 per cent

Others – 1.55 per cent

Repayment of Debt – 30.86 per cent

Principal – 19.15 per cent

Interest – 11.71 per cent