Shimla: Himachal Pradesh Chief Minister Jai Ram Thakur, today, presented a Rs 49,131-crore Budget for the FY 2020-21. the state government has again not proposed any new tax in the budget.
The revenue receipts of 2020-21 are estimated at Rs 38,429 crore, whereas expenditure is estimated to be Rs 39,123 crore – leading to a revenue deficit of Rs 694 crore.
The fiscal deficit is estimated at Rs 7,272 crore for 2020-21, which is 4 per cent of Gross State Domestic Product. The net borrowing will be 3 per cent of GSDP.
As per estimates, there is an 11 per cent increase in Revenue receipts from State’s own sources in 2020-21 compared to budget estimates of 2019-20. I believe that effective tax administration, continued support of Government of India, funding from International Budget Estimates.
As per the budget, out of every hundred rupees to be spent by the Government in 2020-21, Rs.26.66 will be spent on salaries, Rs.14.79 on pension, Rs.10.04 on interest payment, Rs.7.29 on loan repayment and Rs.41.22 will be spent on development works and other activities.