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Haryana Budget 2015-16: Highlights

Mar 19, 2015 18:18 IST

Haryana government led by Chief Minister Manohar Lal Khattar on 17 March 2015 presented its state Budget for the fiscal year 2015-16.  

The state budget was presented in the state assembly by Finance Minister of Haryana Capt. Abhimanyu.

The overall size of the state budget is 68985.87 crore rupees that includes 52312.10 crore rupees of revenue expenditure and 16673.77 crore rupees of capital expenditure. The receipts are pegged at 12877.81 crore rupees for the fiscal year 2015-16.

Key Highlights of the Budget 2015-16
• For the sake of environment and soil health, the VAT on bio-fertilisers as bio-feritilser was removed.
• Rate of VAT on LED lights, pipe fittings and pre-fabricated steel structures was reduced to 5 percent from 12.15 percent. This was done to encourage the use of these in the context of development strategy.
• Revenue Expenditure in 2015-16 was increased by 12.52 percent over the Revised Estimates for 2014-15.
• Capital Expenditure in 2015-16 was increased by 11.33 percent over the Revised Estimates 2014-15.
• Proposed Annual Plan 2015-16 with an overall outlay of 25743.46 crore rupees which includes central assistance of 5106.21 crore rupees for centrally sponsored schemes.
• The budget puts strong focus on capital expenditure and infrastructure development. It has prioritised skill development and job creation.
• The budget rectifies disparities amongst social groups and regions and increases the emphasis on social sector.
• It proposed to continue in 2015-16 with the present devolution pattern determined on the recommendation of the 3rd State Finance Commission (SFC).
• It also proposed to constitute the 5th SFC soon to recommend the devolution pattern for the period 2016-17 to 2020-21.
• Allocations for completion of Metro train link in Faridabad by April 2015 and Bahadurgarh link by April 2016 for the residents of NCR was made.
• Apart from setting up of Gau Raksha Board and a board to revive Saraswati River, the budget also promised maize and bajra at the rate of 1 rupee per kilogram for BPL families.
• Proposed to connect about 4000 villages of Haryana with 100 Mbps internet connectivity by September 2015.
• Allocated 17331.08 crore rupees, including Plan outlay of 5793.65 crore rupees to the economic infrastructure sector. This is 7.56 percent higher than the Revised Estimates of 2014-15.

Department wise allocations for financial year 2015-16
• Agriculture and allied sectors, including cooperation - 2636.65 crore rupees
• Power - 6546.91 crore rupees
• Roads and transport - 5541.14 crore rupees
• Irrigation - 2351.74 crore rupees
• Public health engineering - 2671.55 crore rupees
• Urban development - 3409.37 crore rupees
• Education, sports, art & culture – 11907.09 crore rupees
• Industrial training and technical education - 916.38 crore rupees
• Health and family welfare - 3028.61 crore rupees
• Social justice and empowerment, including welfare of Scheduled Castes and Backward Classes - 5295.11 crore rupees
• Development and Panchayat - 2734.71 crore rupees

 

Quick Digest

Who: Haryana Budget 2015-16

What: Presented

When: 17 March 2015

Is this article important for exams ? Yes44 People Agreed

DISCLAIMER: JPL and its affiliates shall have no liability for any views, thoughts and comments expressed on this article.

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