Haryana government today said it has been successful in bringing down the revenue deficit from 1.9 per cent during previous Congress regime to 0.94 per cent in the state budget for the year 2017-18.
Haryana government today said it has been successful in bringing down the revenue deficit from 1.9 per cent during previous Congress regime to 0.94 per cent in the state budget for the year 2017-18.
Making the statement in the state assembly, Finance Minister Abhimanyu added that the state government has set a target to further reduce the deficit to zero per cent by 2019.
Replying to the discussion on budget estimates for the year 2017-18 during the ongoing budget session, Abhimanyu said the suggestions received by the government from members of state assembly and other stakeholders would also be considered while framing the future development policies and programmes.
"The budget of over Rs one lakh crore presented by the state government is aimed at the welfare of all sections of the society including farmers, labourers, traders, employees, women and youth," he said.
Referring to the "strong financial health" of the present state government, the Finance Minister said various statements were being issued by the opposition parties on the fiscal health of the government suggesting the fiscal and revenue deficit have increased.
"The Gross Domestic Product (GDP) of the state which was 5.7 per cent in the year 2014-15 has first increased to 8.7 per cent last year and GDP of 9 per cent is projected for the year 2017-18," he said.
He said the growth rate of per capita income has been projected as 7.2 per cent whereas it was four per cent in the year 2014-15.
Hhe said when the BJP government took over reins of Haryana in October 2014 "the agriculture growth rate stood at minus two per cent, but now after two years it has increased with positive growth of seven per cent and the 11 per cent people engaged in agriculture and allied sector were getting the benefit of this increased growth rate of agriculture".
The Finance Minister further said Haryana was among the best states of the country having better financial management.
"It has not crossed the Fiscal Responsibility and Budget Management (FRBM) limit of 25 per cent. The government has taken over the debt of Rs 25,950 crore of power distribution companies. This has resulted in annual savings of Rs 3,000 crore to DISCOMS as interest," he added.
He said the total revenue receipts of GDP including tax and non tax was 9.33 per cent in the year 2014-15 whereas it has been projected as 11.12 per cent in 2017-18.
Abhimanyu said the total return rate (TRR), which was 17 per cent in the year 2014-15 has been reduced to 14.3 per cent. (MORE)
(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)
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