Chandigarh, March 17 (IANS) In the first budget by a Bharatiya Janata Party (BJP) government in Haryana, Finance Minister Abhimanyu on Tuesday proposed no new taxes. He said there would be no upward revision of existing taxes as well.
"There is no move to impose any new taxes or to increase the existing taxes," the minister told the state assembly.
He said the state government will bring in efficiency in collection of existing taxes and plug loopholes.
"The budget is an effort to channelise financial resources as per stated priorities," said Abhimanyu, who recently completed a three-year management course from Harvard Business School and took a three-week leave last month just before his maiden budget to complete the course.
This was the first budget of the Manohar Lal Khattar-led BJP government in the state which came to power riding a clear mandate in the assembly elections in October last year.
The minister proposed to remove VAT (value added tax) on bio-fertilizers to promote environment and soil health. He also announced reduction in VAT on LED lights, pipe-fittings and prefabricated steel structures to 5 percent to encourage their use.
"I am certain that in spite of these concessions, we will have buoyancy in our tax receipts next year because of the simplified administration and better compliance," Abhimanyu said, adding that the government has set its sight on double-digit growth in the next two years.
He vowed to accelerate the pace of development, take giant steps towards prosperity by addressing grey areas and correcting the imbalances that had come to pockmark the state.
"We want development to reach all corners of the state and not lopsided development as was prevalent in the earlier governments," he said.
The budget shows a fiscal deficit of Rs.16,423.58 crore and a revenue deficit of Rs.9,557.52 crore.
While Rs.17,060.56 crore will be spent on salaries of government employees, Rs.5,900 crore will be consumed by pensions and Rs.8,563.75 crore by interest payments.
"With thrust on social sector, capital expenditure and development of infrastructure, the budget proposals lend priority to skill development, job creation and putting an end to the disparities among social groups and regions," the finance minister said.
The minister announced hike in allocations to all key sectors such as social welfare, agriculture, cooperation, power, roads and transport, education, health and others.
To give infrastructure a decisive push, the finance minister allocated Rs.17,331.08 crore, including plan outlay of Rs.5,793.65 crore to the economic infrastructure sector.
Kangana Ranaut again taunted Karan Johar said- Your Hindi has improved now, see what happens next
The war between Kangana Ranaut and Karan Johar has intensified. After the reply from the filmmake
Tanya Mittal is the most talked-about contestant of Bigg Boss season 19. From the very first day,
'I warn you, we will not give even an inch of land', Owaisi said on Waqf Amendment Bill;
AIMIM chief Asaduddin Owaisi said the Muslim community has rejected the bill in its current form.
Prime Minister Narendra Modi has inaugurated the Advantage Assam 2.0 summit today. Many Union Min
India vs New Zealand: On the tour of New Zealand, the Indian team (Team India) won the three-matc
Amidst the ongoing tussle over the new Waqf law, Muslim organizations on Tuesday demonstrated the
PFI Ban: Ban on PFI to continue, Karnataka High Court dismisses petition challenging the ban
The Karnataka High Court has upheld the ban on the Popular Front of India (PFI). The court on Wed
For the first time, the country is going to get three medical institutions at the same time. Thes
India has reaffirmed its commitment to economic ties with Russia ahead of next week's two-plus-tw
The pace of corona in India has become unbridled. In the last 24 hours, 1 lakh 17 thousand new ca
