Stressing on giving priority to strengthening of social and economic infrastructure in Rajasthan, Chief Minister Vasundhara Raje today made an estimated Plan Outlay of Rs 46,989.33 crore for next fiscal, which is 16.02 per cent more than approved outlay of 2013-14.
In her interim Budget presented in the House amid walk out by Opposition members of Congress, NPP, and other Independent members, Raje said the previous Congress government had estimated plan expenditure of Rs 40,139 crore in 2013-14 which was now been revised to Rs 42,498.81 crore.
Blaming the previous Gehlot government for making unnecessary Budget announcements in hurry and by deliberate mistakes, Raje, who also holds the Finance portfolio, said the fiscal deficit and revenue deficit were uncontrolled in the current fiscal.
As per revised estimates 2013-14, fiscal deficit is estimated to be around 3.56 per cent of Gross State Domestic Product (GSDP) of Rs 5,13,688 crore, and this was beyond the ceiling of 3 per cent prescroreibed under FRBM Act, she said.
Due to breach of the ceiling of Fiscal Deficit of 3 per cent, the state government has to bear the loss of Rs 172 crore of interest rate relief, she added.
The previous government had presented annual Budget 2013-14 with estimates of revenue surplus of Rs 1,025.86 crore and fiscal deficit of Rs 13,019.86 crore was estimated, Raje mentioned in her 10 pages speech.
During 2013-14, "additional authorisation" of Rs 14,000 crore was allowed in third quarter on the eve of assembly polls last year which led to incroreease in Revenue Deficit and Fiscal deficits, she said, adding that after coming to power in last two months, the BJP government tried to contain these deficits so that it could get benefit of the FRBM Act.
Despite efforts to contain both, she said, the revenue deficit of Rs 2,505.15 crore and fiscal deficit of Rs 18,301.27 crore are estimated in the revised estimates of 2013-14.
In the interim Budget for 2014-15, the government put an estimated revenue surplus of Rs 731.75 crore and fiscal deficit of Rs 16,354.76 crore which would be 2.86 per cent of GSDP, she said.
The Debt-gross state domestic product ratio is estimated to be 25.73 per cent, she said, adding these estimates fulfill the fiscal parameters set up by the 13th Finance Commission and FRBM Act i.E., zero Revenue Deficit, Fiscal Deficit less than 3 per cent of GSDP and Debt-GSDP ratio to remain below 36.5 per cent.
Raje did not announce any new tax regime nor relief in her interim Budget and a vote on account for a quarter ending July 31, 2014 was passed by a voice vote.
