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Dhumal presents Rs 15,078.92 Cr budget


Shimla: Himachal Pradesh Chief Minister Prem Kumar Dhumal today presented budget estimates for year 2010-11, proposing a total outlay of Rs 15,078.92 crore. Dhumal, who also holds the portfolio of finance minister, presented his third budget in the state assembly proposing an increase of one percent in Value Added Tax(VAT), leaving food commodities and edible oils ontouched. He also proposed enactment of fresh Entry Taxes Bill on entry of various products into state from outside, leaving agriculture items out of its preview.

As per the budget, the government would layout new schemes based upon the proposed Rs 3000-crore annual plan agaisnt Rs 2700 crore annual plan for year 2009-11. The Chief minister proposed Rs 12,093.42 Cr. revenue expenditure for 2010-11 against expected revenue receipts estimated at Rs 11,588.55 crore, leaving a deficit of Rs 504.87 crore on the revenue account.

On the capital account, the total expected receipts are Rs 2,798.77 crore and the total capital expenditure including loan payments is estiamted at Rs. 2985 crore. The fiscal deficit for 2010-11 is expected to be 5.08 percent of the GSDP.
The financial year 2010-11 is expected to open with a surplus of Rs 630.14 crore. During the year, the total revenue receipts are estimated to be Rs 11,588.55 cores. On capital account, the total receipts wold be 3,057.75 crore comprising Rs 25.97 crore on account of recoveries of loan, incurred public debt of Rs 2,272.80 crore and Rs 758.98 crore from deposits, advances, remittances and provident fund etc. Thus total receipts during the year would be Rs 14,646.25 crore.

On expenditure side, the revenue expenditure would amount to Rs 12,093.42 crore. Expenditure on Capital Account would be 1,760.28 crore. The expenditure on loans (advances) and public debt (repayments) including inter-state settlements would be of the order of Rs 99.18 core and Rs 1,026.04 crore respectively. Thus total expenditure would be Rs 15,078.92 crore.

Keeping in view the current year deficit of Rs 432.63 crore, the year 2010-11 is likely to close with a surplus of Rs. 197.51 crore. Out of total expenditure estimates outlay Rs 15,078.92 crore, Rs 4,454.59 crore would be incurred on account of salaries/wages, Rs 2,236.30 crore for interest payments, Rs 1,026.04 crore for loan repayment and Rs 1,850 crore for pension expenditure. As per the budget estimates, against an expenditure of every 100 rupees, the state would have 77 rupees as total revenue receipts, including transfers from the centre, the gap of Rs 23 would have to met by borrowing.

Out of every 100 rupees of state revenue receipts, 26 rupees would accrue from own tax revenue, Rs 15 from non-tax revenues, 14 rupees from share of central taxes and 45 rupees from central grants. Out of every 100 rupee spent, salaries would account 30 rupees, interest payments 15 rupees. loan repayments 8 rupees, pension 12 rupees, maintenance 8 rupees and remaining 27 rupees would be spent on all other activities including major developmental works.

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