No new taxes, cess in Haryana budget

Haryana Finance Minister Ajay Singh Yadav presented a please-all Budget for 2011-12 in the state Assembly today. The finance minister completely refrained from imposing any new taxes or cess on any section of the society.

Even the surcharge of 0.25 per cent to 0.7 per cent on different value added tax (VAT) slabs, introduced last year to facilitate urban local bodies with better fund mobilisation, has been discontinued.

The total estimated budgetary expenditure was pegged at Rs 40,276 crore (non-plan expenditure of Rs 24,939.5 crore and plan expenditure of Rs 15,336.8 crore). The finance minister’s Budget proposal projected loan repayments of Rs 6,666.1 crore, interest payments of Rs 4,379.8 crore, revenue deficit of Rs 2,660.7 crore and fiscal deficit of Rs 8,008.6 crore.

The social sector got a major thrust in Haryana Budget with 49 per cent allocation made for various existing and new schemes.

The annual state plan 2011-12 according to the Budget speech of Finance Minister was Rs 13,200 crore. In addition to it an annual plan outlay of Rs 2136.8 crore the centrally sponsored schemes has been included on the plan side, boosting the composite plan outlay in the budget estimates 2011-12 to Rs 15,36.8 crore.