Haryana FM presents Rs 610.46 cr deficit budget
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Last Updated: Monday, March 05, 2012, 20:35
  
Chandigarh: Haryana Finance Minister H S Chatha on Monday presented a Rs 610.46 crore deficit budget for 2012-13 saying the deficit was "due to slow down in the economy and pay/ pension revision impact”.

Presenting the budget proposals in the state Assembly here this afternoon he said that the total receipts (net of public debt) are projected at Rs 44,708.47 crore whereas the total expenditure (excluding repayments) are projected at Rs 45,318.93 crore leaving an uncovered deficit of Rs 610.46 crore.

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.

Reading the 97th Para of his 117 Para 32 page Budget speech the Finance Minister said that the state government has decided to introduce tax at the rate of five per cent on sugar and textile with effect from April one, 2012, but before he concluded his speech Chatha announced deletion of the Para.

Earlier, Chatha said "that all states had unanimously decided to impose VAT at the rate of 5% on sugar and textile as these items had been taken out from the list of goods on which additional excise duty was leviable by the Central Government. In line with this decision, the state government has decided to introduce tax at the rate of 5% on sugar and textile w.e.f. 01.04.2012. However, there will be no tax on khadi which has already been exempted by the government." But later this Para was announced to be dropped.

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.

PTI


First Published: Monday, March 05, 2012, 20:35


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