CM Vasundhara Raje presented Rajasthan annual budget for FY 2017-18
No new tax was introduced in name of VAT, Luxury Tax, Entertainment Tax and Entry Tax except an increase of VAT on the cigarette, which was increased by 15%.
Rajasthan Chief Minister Vasundhara Raje on 8 March 2017 presented the state budget for the financial year 2017-18. The budget for the financial year 2017-18 mainly focuses on investment and economic growth, economic infrastructure development and education.
Recommendations of seventh pay commission will be implemented in the state.
In terms of fiscal indicators, the Chief Minister Raje pegged the fiscal deficit of Rs 24753.53 crore, which is 2.99 per cent of the GSDP.
• Estimated Revenue Deficit for 2017-18
a) Without effect of UDAY - deficit of Rs. 1528 crore.
b) With effect of UDAY - deficit of Rs. 13528 crore
• Estimated Fiscal Deficit for 2017-18 Rs 24753.53 crore which is 2.99% of GSDP.
• Estimated total revenue receipts for 2017-18 Rs 130162 crore.
• Estimated own tax revenue for the year 2017-18 Rs. 59455 crore against Rs 69062 crore in the 2016-17, which is higher by 16.16%.
• Estimated own tax revenue for 2017-18 as percentage of GSDP is 8.34%
• Estimated interest payment in 2017-18 is Rs. 19626.91 crore which is 15.08% of total revenue receipts
Highlights of Rajasthan Budget 2017-18
Economic Infrastructure Development: On the name of economic infrastructure development, the budget for the fiscal year 2017-18 focuses on development of drinking water, transport, roads, air transport, energy, tourism art and culture among others. New schemes announced for the infrastructural development includes
• Some schemes were announced for the management of drinking water in the state and they are
a) Scheme from Jakham dam: For the development of the dam Rs 912.55 crore was allocated. The dam will cover 554 villages in blocks of Pratapgarh, Pipalkhoont and Arnod.
b) Bundi cluster distribution scheme: Rs 80.80 crore was allocated under the scheme which will benefit 97000 people of the cluster.
c) Chakhan dam scheme: Rs 73.93 crore was allocated under the scheme that will benefit Indragarh and Sumerganj mandi towns plus 45 villages and 6 dhanies to be benefited.
d) Didwana city reorganisation scheme: the scheme will be implemented in two phases at an expense of Rs 32 crore (approx).
• Plans for energy sector: To revamp the organisational structure of state discoms, the government has proposed to establish four grid sub-stations (GSS) in the financial year 2017-18, and they will be
a) 2 GSS of 400 KV
b) 6 GSS of 220 KV
c) 15 GSS of 132 KV
d) 200 GSS of 33 KV
• Plans Art and Culture sector: For protection and development of the Art and Culture sector of the state, the 2017-18 budget includes (few of them)
a) Conservation and development works of 8 museums at an expense of Rs 13 crore.
b) Conservation works of archaeological sites- at Ajmer (2), Bharatpur (2), Kota (1) and Nagaur (1) at an expense of Rs 6.46 crore
c) Completion of restoration and conservation works of Fateh Vilas Mahal Khetri and development of infrastructure facilities.
d) Digitisation of rare manuscripts and ancient records of Maulana Abdul Kalam Azad Arbi Farsi Research Institute, Tonk.
e) For conservation and systematic development for Chittorgarh Fort with the partnership of ASI, Chittorgarh Fort Development Authority will be constituted.
Kerala State Budget 2017-18 presented
Investment and Economic growth: For investment and economic growth the budget 2017-18 proposes development works in industries and mines.
For the Industries segment, the budget proposes for the establishment of High Learning Centre at CIPET Jaipur at an expense of Rs 51.32 crore. Some other important decisions for industrial sector includes
a) Development of 2 new centres in textile and agro-food processing sectors. The centres will be developed with the help of Union Government.
b) Besides, for interest subsidy under the scheme of young entrepreneur promotion by RFC, the loan limit was increased to Rs 1.50 crore from existing Rs 90 lakh
c) Entrepreneurship Training centre will be created at JNV University, Jodhpur and Vardhaman Mahaveer Open University, Kota.
d) In the mines sector, Rs 500 crore was allocated for public utility works for citizens of mines affected areas. Besides, the state has decided to go for e-auction system for allotments of mines, ERCC and RCC.
Human Resource and Social Development: Things that were included for Human Resource and Social Development in the name of Social Justice and Empowerment in the budget 2017-18 includes (few of them)
a) Sahyog and Uphar Yojana: Under the yojna, the Subsidy and incentive amount would be doubled for the marriage of the daughter.
b) Mukhyamantri specially abled Samman Pension Scheme: The pension under the scheme would be given to all eligible specially abled at Rs750 per month without the criteria of age.
c) Mukhyamantri Ekal Nari Samman Pension Yojana: Widow Pensioners elder than 60 years will get Rs 1000 per month and widow pensioners of more than 75 years will get Rs 1500 per month.
d) Sukhad Dampatya Jeevan Yojana: under the scheme, the financial support to the specially abled bride and groom has been increased to Rs 50000 per couple.
e) Samyukta Sahayta Assistance: under this assistance scheme, the assistance for specially abled for artificial limb/equipment would be increased to Rs 10000
f) Devnarain Yojana: Four hostels will be developed at an expense of Rs 30 crore.
g) Social justice and empowerment department: to carry out its duties, the department was allocated with Rs 5596.80 crore
Besides, the budget also has something for Economic Backward Classes (EBC) of Rajasthan. Slew of incentives was announced for communities that fall under the bracket of EBC and they are
a) Top 100 students who get admission in IIT, IIM, AIIMS, NLU, IISc will get lump sum Rs 25000.
b) Top 100 candidates of RAS exam conducted by RPSC will get Rs 30000.
c) Top 50 candidates who get into All India Services will get Rs 50000.
d) RBSE students who get top 100 positions in class-10 and in class-12 (all streams) will get lump sum Rs 15000.
e) Top 100 girls of RBSE who score 90 per cent plus marks in class-10 Board Exam and top 100 girls of RBSE each who score 90% plus marks in Science, Arts and Commerce streams in class-12 Board Exam (i.e. 300 in all) will get a Scooty along with Certificate of appreciations.
At the same time, allocations and plans were made for other sectors that fall under the bracket of the Human Resource and Social Development. The sectors that fall into this bracket are women & child development, minorities, youth & sports, medical & health and education among others.
In addition to all these, CM Vasundhara Raje proposed to slash the stamp duty from 5 to 3 per cent in the state budget for 2017-18. The registration fee on the partition deeds of properties other than the ancestral ones was slashed from 1 to 0.25 per cent.