Haryana’s financial health better than earlier: Captain Abhimanyu

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He, however, dubbed the financial impact of UDAY scheme for power distribution companies and hike in salaries due to 7th Pay Commission as major challenges before the state.

Replying to the ongoing debate on the budget during the ongoing session of the Haryana Vidhan Sabha, the Finance Minister said as a result of the efforts made by the government, fiscal deficit to Gross State Domestic Product (GSDP) is projected as 2.47 per cent in 2016-17, which remained up to 4.13 per cent between 1999 and 2004-05.

Capt Abhimanyu said the state government had borrowed loan within the limit of the Fiscal Responsibility and Budget Management (FRBM) Act and it was as per the norms of the Central government.

He said debt liability to GDP in 2015-16 is expected to be 19.05 per cent, which was 23.44 per cent in the 1999-2000 and 23.81 per cent in 2000-01, 25.75 per cent in 2001-02, 25.08 per cent in 2002-03 and 26.09 per cent in 2003-04.

The Finance Minister said there were several challenges before the government while preparing the budget estimates. Provisions had to be made for implementation of UDAY scheme, Seventh Pay Commission, future hike of social security pensions and the report of Pay Anomalies Commission.

Capt Abhimanyu said under the UDAY scheme, debt burden of Rs 35000 crore of DISCOMs has been taken over by the government. This will give benefits of around Rs 1000 to Rs 1200 crore a year in terms of interest that is paid.

When the losses of power companies will reduce, the benefit would be given to consumers in tariff.

On the charge of the opposition about reduction of allocation of Schedule Castes Component, Capt Abhimanyu said the allocation this year is 34.47 percent higher as compared to the previous financial year. He said the amount earmarked was 20.3 percent of the total outlay.

He said to settle regional disparities, the Happening Haryana summit was held and it would lead to generation of employment.

He further said that compensation given by the government to the farmers was the highest ever and more than what was given in the tenures of the previous governments.

He said Manesar-Palwal section of Kundli-Manesar-Palwal Expressway would be inaugurated by Union Minister for Road Transport and Highways and Shipping Nitin Gadkari on April 5.

He added that the demand for rebate in VAT to mehandi industry in Faridabad was being studied.

Earlier, while speaking on the budget, INLD MLA Naseem Ahmed said it seemed like a copy of the previous budget and demanded that the schemes announced earlier should be implemented.

He said though announcements of tax free budget are made, it should be enured that later no taxes are imposed. Another INLD MLA Jaswinder Singh Sandhu said that no section of the society had benefitted and people were still awaiting fulfillment of the promises made by the BJP.