House passes Budget of Rs 37,939 cr

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virbhadraThe Vidhan Sabha today passed a Budget of Rs 37,939 crore for the financial year 2017-18 as per the Budget estimates presented by Chief Minister Virbhadra Singh in the Assembly on March 10.

It was shortly after 4 pm today that the Speaker, BBL Butail, imposed the guillotine, marking the end of the debate on various demands in various departments. Following this, Chief Minister Virbhadra Singh, who holds the Finance portfolio, tabled the Himachal Pradesh Appropriation Bill (No 2), 2017, which was passed by the House through voice vote.

The Vidhan Sabha passed the Himachal Pradesh Appropriation Bill (No 2), 2017, which will authorise payments and appropriation of certain sums from and out of the consolidated fund of the state for the financial year 2017-18.

The total revenue deficit in the Budget was Rs 1,041 crore since the revenue receipts stand at Rs 27,714 crore and the total expenditure is estimated to be Rs 28,755 crore. The fiscal deficit for the year 2017-18 has been pegged at Rs 4,946 crore.

The fiscal health of the state remains a cause of major worry as the debt burden has already touched Rs 38,567 crore on March 31, 2016, and is likely to further shoot up.

As per the Budget passed, the salaries would consume Rs 9,628 crore, pensions Rs 4,950 crore, interest payments Rs 3,500 crore, loan repayment Rs 3,105 crore, other loans Rs 448 crore and maintenance Rs 2,311 crore.After having met all these committed liabilities, only a sum of Rs 39.55 out of every Rs 100 would be left at the disposal of the government for development works.

Story : The Tribune

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