Haryana FM presents Rs 610.46 cr deficit budget

Last Updated: Monday, March 5, 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 5, 2012 - 20:35

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