CM Raman presents deficit budget of Rs 70059 crore

     Raipur, March 09, 2016: Chhattisgarh Chief Minister Dr Raman Singh today presented a budget of Rs 73996 crore for the financial year 2016-2017 in the state assembly.

     For the financial year 2016-2017 the expected gross expenditure would be Rs 73,996 crore, and during that period the expected revenue receipt is Rs 61,427 crore, said Singh who also hold the finance portfolio.

      Against the expected revenue receipt of Rs 69972 crore the budgetary expenditure would be Rs 70059 crore, he said.

      The BJP government is expecting a deficit of Rs 87 crore. By adding the budgetary deficit of Rs 218 crore of 2015-16, the total budgetary deficit is expected to be Rs 305 crore, he said.

     Also the revised revenue receipt for the year 2015-2016 is Rs 58,814 crore against the estimated Rs 57,956 crore and the revenue expenditure is expected to be Rs 54,866 crore against the estimated Rs 57,956 crore. Thus the gross fiscal deficit has reduced to Rs 6,832 crore from Rs 6836 crore, which is 2.72 per cent of the gross state domestic product and is less than the ceiling percentage of three per cent.

     Presenting the budget the Chief Minister said this was his tenth budget in the assembly.

     Chhattisgarh is reeling under a severe drought condition and the state government is doing everything to provide relief to the farmers, he said adding every farmer would be provided up to one quintal of seeds free of cost by the state government, which will benefit seven lakh small and marginal farmers.

     Current irrigation percentage of the state is about 35 per cent and with this year’s budget allocation of Rs 2564 crore it is expected that the irrigation percentage would increase by another 1.5 per cent, he said.

     For the mid-day meal programme the state has allocated Rs 542 crore from the budget.

     Similarly for the Chief Minister Food Security programme for the 60 lakh families of the state a sum of Rs 3300 crore is allotted, he said.

     Similarly for the Swachh Bharat Abhiyan Rs 400 crore is allocated for rural sector and Rs 300 crore is earmarked for urban area.

    Currently the state has one teacher again every 23 students and to improve further the quality of education Rs 11,144 crore is allocated for School education Department, the Chief Minister said.   

     To develop a sewerage system in the Naya Raipur, the state government has made a provision of Rs 70 crore interest free loan and also rehabilitation of the project oustees of Naya Raipur Rs 101 crore is allocated.

     Talking about the tax rebate, Singh said the VAT on mobile phones has been proposed five per cent from the current 15 per cent.

     Five per cent VAT on cycle and cycle parts are abolished.

      To meet the expenditure for welfare schemes, the state government also proposed half per cent increase in the VAT rate from 14 per cent to 14.5 per cent, he said.

     Also the VAT rate on petrol and diesel would continue as of January 01, 2016, Singh said.