Finance Minister of Haryana on 1 March 2013 presented his second budget as the Finance Minister of the State.
Highlights of the Budget are as follows:
• An outlay plan of 27071.32 crore rupees was proposed for Annual Plan 2013-14 with a growth of 18% from RE 2012-13. A growth of 17.26 % was expected in VAT to yield 19288.61 crore rupees.
• Haryana has outperformed the major States in the country in mobilizing financial resources during the 11th Five Year Plan.
• The State will achieve the target of its revenue collections of 19962 crore rupees under VAT Act, CST Act, Entertainment Duty Act, Passenger and Goods Taxation Act and Excise Act for the current year.
• Expected revenue receipts for 2013-14 is at 43780.33 crore constituting growth of 15.75% over RE 2012-13
• Excise Policy already announced by the government will yield 4000 crore rupees in Financial Year 2013-14
• Revenue deficit as a percentage to GSDP will further reduce to 0.59 during BE 2013-14 as against 0.90 in RE 2012-13.
• The ratio of salary and pension to total revenue receipts is also proposed to reduce from 38.68% during RE 2012-13 to 37.94% in BE 2013-14.
• The debt-GSDP ratio also declines favourably from 16.50% in RE 2012-13 to 16.47% during BE 2013-14, much within the target of 22.8% prescribed by the 13th Finance Commission.
• The capital expenditure net of expenditure on food procurement is proposed to increase to 6936.99 crore in Financial Year 2013-14 as against 5509.24 crore during RE 2012-13.