Page 4 - State Budgets

Focus on infra, agri, education, sports in budget for 2024-25: Soren

Jharkhand Chief Minister Hemant Soren on Monday held a meeting with officials to review preparations for the state budget for the 2024-25 fiscal. He directed the officials to focus on infrastructure, education, sports, industry, health, agriculture, electricity, water supply, road, housing and social security in the upcoming state budget. Taking stock of the preparations for the budget for the next fiscal at the state secretariat, the CM said that special focus should be given to villages, agriculture, farmers and youths in the budget. Strengthening the rural economy is the priority of the state government, he said. he CM added that a better budget should be prepared keeping in mind the priorities and aspirations of all the people. Welfare of the poor is the aim of our government. The benefits of state government schemes should reach the last person, he said. State finance minister Rameshwar Oraon, chief secretary L Khiyangte and other senior officials were also present in the ..

Supplementary budget passed; Cong pushed Chhattisgarh into debt: CM Sai

Chhattisgarh Chief Minister Vishnu Deo Sai on Thursday said the previous Congress government did not make concrete efforts for revenue generation and pushed the state under huge debt in the last five years. While answering the debate in the Assembly on the demand proposals for the second Supplementary Budget of the ongoing financial year 2023-24, Sai said his government is determined to fulfil each and every 'Modi guarantee'. After the discussion, the House passed the supplementary budget worth more than Rs 12,992 crore. "We are going to start fulfilling the promises made to the public in our manifesto through this supplementary budget. At the age of 10, I lost my father but I want to assure the youth of the state I will always work for their betterment as a father and a guardian. I will be committed like a brother for the safety and prosperity of sisters of the state. I will be dedicated for the betterment of every citizen of the state," he said. The previous government had presen

States on course to spend 29% more in capex this fiscal: ICRA report

States are on course to spend 29 per cent more on capital expenditure in the ongoing fiscal, aided by additional central grants and market borrowings, a report said on Tuesday. The increased capex spending will see their debt-level in relation to their gross domestic product rising to 30 per cent from 28.9 per cent in FY23, a report by Icra Ratings said. The combined capital spending of 13 major states will rise 29 per cent this fiscal to Rs 6.2 lakh crore from Rs 4.8 lakh crore in FY23, the report said. However, despite the year-on-year growth, the capex spending is likely to be Rs 50,000 crore lower than the FY24 Budget estimates of Rs 6.7 lakh crore, Icra said. The aggregate fiscal deficit of these states for FY24 is expected to go up by Rs 60,000 crore to Rs 8.3 lakh crore as against the budgeted estimate of Rs 7.7 lakh crore, the ratings agency said. With revenue likely to trail budgeted targets, revenue and fiscal deficits of these states are expected to be Rs 2.1 lakh crore

Kerala's liquidity strained, seeks Centre's intervention over borrowing cap

Kerala Finance Minister K N Balagopal on Saturday said the state's liquidity position was severely stressed due to the reduction in the annual borrowing limit and sought the intervention of Union Finance Minister Nirmala Sitaraman into the issue. In a letter written to the union finance minister, Balagopal said the liquidity stress got aggravated specifically because of the cut in the annual borrowing ceiling for the financial years 2022-23 and 2023-24. He said Kerala has been relying on its own sources of revenue for meeting the expenditure during recent years, unlike many other states. Balagopal said the decision of the Union Government to include the borrowing of institutions like KIIFB (Kerala Infrastructure Investment Fund Board) and lower the annual borrowing limit of the state with retrospective effect was causing severe liquidity stress for Kerala. "I write this letter to invite your kind attention to the issue of liquidity stress being faced by Kerala due to the reduction

Karnataka CM Siddaramaiah set to present State Budget today at 12 noon

Chief Minister Siddaramaiah has arrived at Vidhana Soudha in Bengaluru to present the state budget

Raj cabinet discusses formation of new districts announced in state budget

Discussions regarding the formation of new districts announced in the Rajasthan budget 2023-24 were held in a cabinet meeting here on Friday evening. Decisions on recitation of Preamble and fundamental duties of the Constitution in schools, first increment in the interest of the employees in six months, more opportunities to the youth of the state in government service were also taken in the meeting chaired by Chief Minister Ashok Gehlot. The cabinet discussed the report presented by the Ramlubhaya Committee, which was formed to look into the demands of new districts, as well as memorandums received from different areas after the announcements of new districts. Discussions regarding the administrative boundaries of the new districts and on suggestions from people were held in the meeting. Gehlot had announced to form 19 new districts in the state budget this year. However, people in some areas have expressed unhappiness over the announcement. Protests have been held in some areas .

Assam government's 2021-22 budget unrealistic, overestimated, says CAG

The Comptroller and Auditor General (CAG) of India on Thursday termed the Assam government's budget for 2021-22 as unrealistic and overestimated, and asked it to formulate expenses based on reliable assumptions. The CAG also pointed to the increasing growth rate of the state's public debt and recommended that it reduces revenue expenditure. In the State Finances Audit Report for the year ended March 31, 2022' tabled in the state assembly, the CAG said the actual receipts for the year were Rs 99,548.83 crore against the estimation of Rs 1,19,423.05 crore by the state government. This restricted the expenditure to Rs 1,07,814.62 crore against estimated spending of Rs 1,36,554.69 crore. Dubbing the budgetary assumptions as unrealistic and overestimated, the auditor said the state government should formulate a realistic budget based on reliable assumptions of likely resource mobilisation, the needs of the departments and their capacity to utilise the allocated resources so as to avoid

Subsidy for farm fencing to help nearly 100,000 farmers in Rajasthan

The announcements were made in the state Budget to strengthen and increase power generation in the state so that the farmers and general consumers get an uninterrupted power supply

Budget session of Himachal Pradesh Assembly to commence on March 14

The budget session of the Himachal Pradesh Assembly will commence on March 14 and Chief Minister Sukhvinder Singh Sukhu will present the budget for 2023-24 on March 17. Speaking to mediapersons on Friday, Assembly Speaker Kuldeep Singh Pathania said the 24-day session would have 18 sittings. There will be two private member's days on March 16 and 24. The budget would be passed on March 29, Pathania said. He said the Assembly secretariat has so far received 543 starred questions -- 391 online and 152 offline -- and 189 un-starred questions. The general discussion of the budget would be held on March 20, 21, 22 and 23, while discussion on demands for grants would be held on March 27, 28 and 29. An all-party meeting presided over by the speaker would be held ahead of the session on March 13.

AAP govt presents its first complete Punjab Budget of Rs 1.96 trillion

Punjab Finance Minister Harpal Singh Cheema on Friday presented the first complete state Budget of the Aam Aadmi Party (AAP) government with an outlay of Rs 196,462 crore

Jharkhand govt tables Rs 1.16 trillion budget for FY24 in assembly

The Jharkhand government on Friday tabled a Rs 1.16 lakh crore budget for the 2023-24 fiscal in the assembly. The budgetary estimates for FY24 were 15 per cent higher than the previous annual financial statement. The Hemant Soren government had presented a budget of Rs 1.01 lakh crore for the financial year 2022-23. "I lay on the table of the House a budget of Rs 1,16,418 crore for the financial year 2023-24," Finance Minister Rameshwar Oraon said in the House. Members of the opposition BJP and AJSU Party staged a walk-out of the assembly during the budget speech by the state finance minister. He also announced that a programme with a cost of Rs 50 crore would be launched to encourage millet production in the state. The budget will meet aspirations of the poor, exploited, downtrodden people and bolster all-round development in the state, he said. The JMM-led coalition government has brought many innovative schemes that will pave the way for rapid economic growth in the state, th

Gujarat Budget for fiscal 2023-24 to be presented in Assembly on Feb 24

The Budget session of the Gujarat Assembly will begin from Thursday in Gandhinagar and the state Budget for FY 2023-24 will be presented on Friday as Opposition parties geared up to corner the Bharatiya Janata Party (BJP) government over key issues such as leak of question papers of recruitment exams, inflation and unemployment. A detailed agenda of the Assembly during the more than three-week-long session was discussed at a meeting of the Business Advisory Committee (BAC) on Wednesday, said an official release. This will be the first budget of the state after the BJP retained power with a thumping majority in the December 2022 Assembly polls and Chief Minister Bhupendra Patel returned for a fresh term in office. The meeting of the BAC, which decides legislative business and other issues related to an Assembly session, was held under the chairmanship of Speaker Shankar Chaudhary and attended by MLAs of the ruling BJP, including Chief Minister Patel, and Opposition members. ...

UP govt presents Rs 7 trn Budget for FY24 including various new schemes

The Uttar Pradesh government on Wednesday presented a Rs 6,90,242.43 crore Budget, including new schemes worth Rs 32,721.96 crore, for the financial year 2023-24. The total receipt is estimated at Rs 6,83,292.74 crore, which includes revenue receipts of Rs 5,70,865.66 crore and capital receipts of Rs 11,247.08 crore, Uttar Pradesh Finance Minister Suresh Kumar Khanna said. The share of tax revenue in revenue receipts is Rs 44,58,71.59 crore, including its own tax revenue of Rs 2,62,634 crore and the state's share in central taxes of Rs 1,83,237.59 crore. Its total expenditure is projected at Rs 6,90,242.43 crore. Out of this Rs 5,02,354.01 crore is spent on the Revenue Account and Rs 1,87,888.42 crore is spent on Capital Account. After deducting the total expenditure from the receipts of the Consolidated Fund, a deficit of Rs 6,949.69 crore is estimated. Net receipts of Rs 5,500 crore are estimated from Public Accounts, Khanna said. The net result of all transactions is estimated

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Yogi Adityanath govt to present its largest-ever annual budget today

State Finance Minister Suresh Khanna said that the focus is likely to be on infrastructure development, health sector and education

We want to make Manipur football capital of India: CM Biren Singh

The state government, however, aims to build at least two world-class academies to promote sports like football and boxing

Rs 500/month allocated to landless women farm labourers in Karnataka budget

Aimed at wooing women voters ahead of Assembly polls, Karnataka Chief Minister Basavaraj Bommai on Wednesday announced certain measures targeted at them including a scheme under which Rs 500 will be provided every month to landless women farm labourers. He also announced free bus passes for women working in the organised sector and also school and college going girl students. Presenting his government's last budget ahead of polls due by April-May, Bommai said, a new scheme called "Shrama Shakthi" is being launched under which a financial assistance of Rs 500 per head per month will be provided by the government to the landless women farm labourers through direct benefit transfer (DBT). He said to enable women to start profitable home-based factories, free skill development training will be provided to one lakh women in the current year. Noting that on the lines of 'Mathrupoorna' programme, eligible married women will be provided with mid-day meal and prophylactic IFA (iron folic ac

Karnataka budget: Govt to create Rs 590 crore cloud-based state data centre

The Karnataka government proposed to set up a cloud-based state data centre with an outlay of Rs 590 crore for various departments and public sector undertakings. Information technology (IT) is being used extensively in the administration of the state, Chief Minister Basavaraj Bommai said on Friday, adding the security of the administrative system is of extreme priority. "In this background, 24X7 Cyber Security Operation Centre (CSOC) with cyber experts incorporating modern technology will be established to ensure safety of government websites, online services and for data security," Bommai, who holds the finance portfolio, said presenting the 2023-24 budget in the state Legislative Assembly. The government proposed to simplify the Professions Tax Act by amending the law. To provide relief to the lower income class, it is proposed to raise the tax exemption limit from Rs 15,000 to Rs 25,000 per month for salaried or wage-earning employees, the Chief Minister added.

Schemes not 'freebies', but part of social security: CM on Rajasthan Budget

"We made a promise to our people, we are just delivering on that promise. Social security is their right," he said

Telangana state Budget pegs Rs 2.9 trillion expenditure for 2023-24

Telangana Finance Minister T Harish Rao on Monday introduced the State Budget in the Assembly with any expenditure outlay of Rs 2,90,396 crore for 2023-24. Chief Minister K Chandrasekhar Rao's brainchild Dalit Bandhu scheme was allotted Rs Rs 17,700 crore. The scheme provides financial assistance at the rate of Rs 10 lakh per beneficiary to take up any business of his or her choice. In the Budget, an amount of Rs 36,750 crore is proposed as Special Development Fund for Scheduled Castes while the Medical and Health Department gets Rs 12,161 crore. Providing statistics, Harish Rao said Telangana's share in the country's GDP grew to 4.89 per cent in 2020-21 from 4.1 per cent in 2014-15. The per capita income of Telangana is estimated to increase from Rs 1,12,162 in 2013-14 to Rs 3,17,115 in 2022-23, he said. The Budget allotted Rs 2,11,685 crore towards Revenue Expenditure and Rs 37,525 crore for Capital Expenditure.