Himachal Chief Minister presents a budget of 51,365 crore rupees for the year 2022-23
HP Chief Minister, Jai Ram Thakur who also holds a Finance portfolio today presented a budget of 51365 crore rupees for the year 2022-23.
He said that as per the Revised Estimates for the year 2021-22, the total revenue receipts were Rs. 37 thousand 312 crores and the total revenue expenditure was estimated to be Rs. 37 thousand 34 crores. Thus there is a revenue surplus estimated at Rs.278 crore in Revised Estimates.
According to the Budget Estimates for the year 2022-23, the total revenue receipts are expected to be Rs. 36 thousand 375 crores. Revenue expenditure was estimated as 40 thousand and 278 crores. The revenue deficit is estimated to be Rs. 3 thousand 903 crores. The fiscal deficit is expected to be Rs. 9 thousand 602 crore which is 4.98 percent of the State’s Gross Domestic Product.
He said that the budget presented for the financial year 2022-23 didn’t propose new taxes. We will ensure that adequate resources are arranged with effective tax compliance, cooperation of the Government of India, and better financial management.
According to the budget of 2022-23, out of every 100 rupees, Rs. 26 on salary, Rs. 15 on pension, Rs. 10 on interest payment, Rs. 11 on loan repayment, Rs. 9 for Grants for Autonomous Bodies while the remaining Rs. 29 will be spent on other activities including capital works.
He said that in order to mitigate the effect of Corona on the economy of the State, the Government of India has allowed States to borrow beyond 3 percent of the GDP. Thus there is a need to amend the Fiscal Responsibility and Budget Management (FRBM) Act. A bill to amend the Act will be brought in this session. The FRBM statement too is being laid along with the Budget. We are not afraid of the hustle and bustle of time.
He said that it was a matter of great pride and joy for me and I have learned many new things during this period. The last 2 years have been unexpectedly challenging for us because, before this, no Government had to face the pandemic and the global recession together. This pandemic affected all aspects of our lives. We had to fight on all fronts together. In this tenure, while patiently facing financial constraints, we have tried to serve all the sections of society, especially those who need more assistance from the Government.
I would like to draw the attention of the honorable Members of this House to the announcements made to encourage entrepreneurship among women. In this budget, special care has been taken of all the employees and Para Workers. This budget focuses on women empowerment and welfare of Scheduled Castes and Scheduled Tribes, the CM said.
