Himachal’s fiscal deficit down by 9.2%: CAG report
SHIMLA: Himachal Pradesh’s fiscal deficit decreased by 9.2% in 2018-2019 financial year, as per the comptroller and auditor general’s (CAG’s) report tabled in the state assembly on Monday. The deficit, which stood at ₹3,870 crore in 2017-18, dropped to ₹3,512 crore , logging a decrease of ₹358 crore. Fiscal deficit, in very broad terms, is the amount an entity has to take as loan. In general, the lower it is, the better it is.
The capital expenditure (₹4,583 crore) increased by 22% (₹827 crore) over previous year’s ₹3,756 crore. The share of capital expenditure to total expenditure increased from 12% in 2017-18 to 29% in 2018-19.
The primary fiscal deficit of ₹82 crore in 2017-18 was offset by a primary surplus of ₹ 510 crore in 2018-19.
In the same duration, the state’s revenue receipts (₹30,950 crore) increased by 13% over the previous year’s ₹27,367 crore.
Only 33% of the revenue receipts came from the state’s own resources comprising taxes and non-taxes.
Central transfers comprising the state’s share in central taxes and duties (18%) and grants-inaid from the Union government (49%) brought in the remaining 67%.
The CAG report says the total expenditure, ₹34,493 crore, increased by 10% (₹3,181 crore) and revenue constituted 85.3% of the total expenditure.
The total expenditure on four components — salary and wages, pension liabilities, interest payments and subsidies — formed 73% of the revenue expenditure.
Overall fiscal liabilities at the end of the year 2018-19 were ₹54,299 crore with a growth of 6.4% over the previous year. Fiscal liabilities were 36% of GSDP and 1.75 times the revenue receipts.
The total public debt increased from ₹25,729 crore in 2014-15 to ₹36,425 crore in 2018-19 registering annual average growth rate of 9.6%. The share of market borrowings in total public debt went up from 59%.
During 2018-19, the total public debt increased 5% over previous year.
In the next ten years, of total outstanding market loans UDAY bonds of ₹26,573 crore, the state has to repay the principal of market loans and UDAY bonds of ₹ 25,005 crore (94.1%) and interest amounting to ₹12,521 crore.
Cong walks out over police inaction against BJP workers
Leader of opposition Mukesh Agnihotri on Monday again raised the issue of police inaction against Bharatiya Janata Party (BJP) workers, who allegedly barged into the hotel premises of Kullu legislator and Congress’s state general secretary Sunder Singh Thakur. Thakur alleged that the protest was staged by his political adversary and BJP MLA Maheshwar Singh. Agnihotri said the party was concerned about the security of Sunder Singh Thakur since no action has been taken by the police yet. The CM said the matter was subjudice. Dissatisfied with the CM’s clarification, the opposition resorted to sloganeering. Later, members of the opposition walked out.