No fresh taxes, big push to rural devp in HP budget
SHIMLA: Himachal Pradesh chief minister Jai Ram Thakur focused more on the rural population, which constitutes 80% of the state, while presenting a ₹44,388crore ‘populist’ budget for the financial year 2019-20 in the state assembly on Saturday. No new tax has been proposed in the budget which saw an increase of ₹2,948 crore (7%) from ₹41,440 crore in 2018-19.
The fiscal deficit is estimated at ₹ 7,352 crore for 2019-20, which is 4.3% of GSDP. The net borrowing will be ₹5,069 crore.
Presenting his second budget, the chief minister, who also holds the finance portfolio, announced 15 new schemes for various sections.
In his three-hour address in the house while tabling the 168page proposed budget, Thakur said an annual plan of ₹7,100 crore is focused on increasing farm productivity, developing rural infrastructure, developing new sources of irrigation, flood control and social services.