Guj's interim budget offers no new scheme, tax

Like the Union budget, Gujarat government presented its interim budget for vote on account for first four months of the next financial year wherein it has offered no new taxes or schemes for the industry.

The interim budget presented today by Vajubhai Vala, finance minister of Gujarat government, has sought Rs 17,987 crore as expenditure in the first four months of the next fiscal. Considering the ensuing general elections in the country, Gujarat government, too, has opted for vote on account.

"With the uncertainty surrounding elections, it would have been futile to have gone for a full budget and announce new schemes which might later be refuted by the new government in power after elections. Therefore, we opted for vote an account," said Vala.

Budget estimates for the fiscal 2009-10 show a surplus of Rs 153.86 crore for the next financial year. The total income of the state for the fiscal 2009-10 is estimated to be Rs 53,546.70 crore, which also includes capital receipts of Rs 11,473.02 crore.

The total estimated expenditure for next fiscal has been kept at Rs 52,997.34 crore, which includes Rs 42,016.42 crore expenditure on revenue account and Rs 10,980.92 crore expenditure on capital account.

In the wake of implementation of 6th pay commission recommendations, Gujarat government will have to bear a recurrent burden of about Rs 3,000 crore in addition to nearly Rs 5,400 crore on account of payment of arrears. "Despite taking the additional burden into account, the next fiscal is estimated to have a surplus of Rs 153.86 crore", said Vala during a post-budget press conference.

Meanwhile, the budget was criticised by the opposition party, Congress, for ignoring ailing diamond industry, among other things.