The BJP-led Haryana Government on Friday presented a Rs 1.15 lakh crore Budget for fiscal year 2018-19 with no proposal of any fresh taxes and reducing the value added tax on natural gas from 12.5 percent to 6 percent in the state.

With an eye to the 2019 Lok Sabha election, the fourth Budget of the Manohar Lal Khattar Government presented in the Assembly by Finance Minister Capt. Abhimanyu laid emphasis on agriculture and allied activities, education, employment, industries and construction of Sutlej Yamuna Link (SYL) canal.

The Budget speech of the Finance Minister also gave a detailed account of achievements of the Haryana Government in last three and a half years.

Pegging the fiscal deficit for year 2018-19 at Rs 19399.34 crore, the Finance Minister presented a budget of Rs 1,15,198.29 crore, an increase of 12.6 per cent over the swaran jayanti year budget of Rs 1.02 lakh crore for fiscal 2017-18.The Budget outlay comprised of 26.1 per cent as capital expenditure of Rs 30,012 crore and 73.9 per cent as revenue expenditure of Rs 85,187 crore for next fiscal.

Capt. Abhimanyu said that the budget 2018-19 is aligned with the sustainable development goals (SDGs) Vision 2030 document. Out of the total Budget, amount of Rs 44,911.16 crore has been allocated to schemes which lead to the attainment of 15 SDGs in due course of time, the Minister said.

With three cardinal principals namely “leaving no one behind, reaching the furthest first”, integrated approach and universality in mind, the Minister said that the Government is working to prepare a three-year action plan and a seven-year strategy plan to implement the SDGs in Haryana.

During his Budget speech, Capt Abhimanyu also took a dig at previous Congress government reciting a couplet, “Kuch to phool khilaye humne, aur kuch phool khilane hai, Mushkil yeh hai baag mein ab tak, kaante kai purane hai.”

Among new initiatives for integrated financial management, the Finance Minister announced raising Rs 1000 crore in 2018-19 from monetization of 24109 Government properties identified by Asset Management cell, operationalization of Haryana State Financial Services Limited in the first quarter of next fiscal, restructuring of its State Subordinate Accounts Services and Audit cadre.

Apart from this, the government has decided that all departments and public sector undertakings, including autonomous bodies, would be allowed to operate only one or two major bank accounts with effect from April, 2018.

This inter alia, means that all the remaining bank accounts would have to be consolidated into one or two accounts for efficient utilisation of funds, the Finance Minister added.

Elaborating about financial situation, he said that the estimated revenue receipt for the year 2018-19 is Rs 76933.02 crore, of which tax receipt is Rs 58,431.74 crore.

“Fiscal deficit has remained within the stipulated limit of 3 percent of GSDP prescribed by the Fourteenth Finance Commission for the states. Fiscal deficit is likely to be 2.82 percent (with UDAY) of GSDP in next fiscal year,” he said.

On burgeoning debt liability which is projected at Rs 1.61 lakh crore for the next financial year, Capt Abhimanyu said the debt to GSDP ratio has remained within the prescribed limit of 25 percent. In 2018-19, it is estimated at 23.44 percent with UDAY.

“Following prudent fiscal management policies during the last three years, the BJP government has been able to keep all fiscal parameters, except the revenue deficit, within the limits prescribed. Even in the case of revenue deficit, the Government has been able to reverse the increasing trend”, he claimed.

The revenue deficit is projected at Rs 8253.51 crore for fiscal 2018-19.

He further said that during the current year 2017-18, as per advance estimates, the GSDP of Haryana is expected to achieve growth of eight per cent, as against 6.6 per cent recorded at the national level.

Elaborating about sector-wise allocation of funds, the Finance Minister said that about 12.22 per cent of the total budget has been allocated to agriculture and allied, irrigation and rural electrification subsidy, 12.96 per cent for education, 7.46 per cent for social welfare, 4.14 per cent for health and family welfare and 23.01 per cent has been allocated for repayment of debt.

For Sutlej Yamuna Link (SYL) canal, the State Government has allocated Rs 100 crore.

Capt Abhimanyu also assured the House that if Rs 1,000 crore is required for SYL construction, the Government will provide the same.

The Finance Minister concluded his budget speech with poetry, “Kashti chalane walon ne jab haar kar di patwar hamein, lehar-lehar toofan mile aur mauj-mauj majhdhaar hamein, phir bhi dikhaya hai hamanein aur phir yeh dikha denge, sabko, in halaat mein aata hai daria karna paar hamein.”

The poetry which was an apparent attack on previous Congress Government elicited loud applause from the treasury benches.