Khattar proposes over Rs 1.77 lakh cr for Haryana budget

Haryana Chief Minister Manohar Lal Khattar presented the state budget in the state assembly on Tuesday, proposing a budget of Rs 1,77,255.99 crore for the fiscal year 2022-23. Khattar, who also holds the Finance portfolio, forecasted a tax revenue collection of Rs 73,000 crore in fiscal year 2022-23.

"Total revenue receipts are expected to be Rs 1,06,424.70 crore in Budget Estimates 2022-23, with tax revenues of Rs 73,727.50 crore and non-tax revenue of Rs 12,205.36 crore. The share of central taxes is expected to be Rs 8,925.98 crore, while grant-in-aid is expected to be Rs 11,565.86 crore. The capital receipts are expected to be Rs 5,393.89 crore "Khattar stated.

Meanwhile, the fiscal deficit is expected to be 2.98 percent of the GSDP in 2022-23.

"Through prudent fiscal management, we were able to limit market borrowing to approximately Rs 30,820 crore as opposed to the permissible limit of Rs 40,872 crore, and the fiscal deficit is estimated to be 2.99 percent of Gross State Domestic Product in the Revised Estimate of 2021-22," he said.

"The fiscal deficit is expected to be within the prescribed limit of 3.5 percent by the 15th Finance Commission for the fiscal year 2022-23, at 2.98 percent of GSDP, as per the Budget Estimate of 2022-23," he added.

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