Haryana presents a deficit budget

Chatha said that Haryana was a revenue-deficit state up to 2004-05. “After the present government came to power in 2005-06,the state became a revenue surplus and remained in the surplus zone up to 2007-08. But due to the slow-down in economy and pay/pension revision impact brought the state in revenue deficit zone,” he said.

Chatha,who started his budget speech when the Indian National Lok Dal (INLD) members were locked in heated arguments with the Speaker,Kuldeep Sharma,continued with his speech even as the main opposition staged a walkout.

Presenting the Budget Estimates for 2012-13,Chatha said total receipts (net of public debt) are projected at Rs 44,708.47 crore,of which revenue receipts are Rs 37,327.97 crore,while capital receipts (net of public debt) are Rs 7,380.5 crore.

The receipts have registered an increase of Rs 4,797.13 crore,Rs 3,840.34 crore and Rs 956.79 crore respectively,over the corresponding projections in the Revised Estimates for 2011-12.

The total expenditure (excluding repayments) under the Budget Estimates for 2012-13 is projected at Rs 45,318.93 crore,of which Revenue Expenditure is Rs 39,783.52 crore and Capital Expenditure Rs5,535.41 crore.

“It is heartening to note that the expenditure under these categories has marked an increase of Rs 3,831.16 crore,Rs 3734.27 crore and Rs 96.89 crore,respectively over the corresponding projections in the Revised Estimates of 2011-12”,Chatha said.

The Budget Estimates for 2012-13 project a revenue deficit of Rs 2,455.55 crore and fiscal deficit of Rs 7,596.82 crore. The balance from Current Revenue for 2012-13 is projected to be Rs 5,266.14 crore.

He stated that due to implementation of the sixth pay commission recommendations in the state,the impact on the state exchequer is about Rs 13,930.00 crore (Rs 10,950.00 crore on government employees,Rs 1,980.00 crore on pensioners and Rs 1,000 crore on the employees of government aided institutions) up to 2011-12.

In per cent term,the fiscal deficit is estimated to be 2.06 per cent of GSDP in 2012-13 which is within the prescribed limit of three per cent per cent. The revenue deficit is estimated as 0.66 per cent of GSDP in 2012-13,he said.

Against the Annual Plan projections of Rs 13,200 crore in the Budget Estimates of 2011-12,the allocation for the Annual State Plan 2012-13 is proposed at Rs 14,500 crore.

Chatha said that Haryana’s economy was poised to achieve a growth rate of 9.6 per cent in Gross State Domestic Product (GSDP). At current prices,the GSDP is estimated at Rs 2,64,149 crore in 2010-11 against Rs 2,22,031 crore in 2009-10,registering an increase of 19 per cent.

According to the Advance Estimates for 2011-12,the per capita income of Haryana is expected to be Rs 1,09,227 at current prices,he added.