Shimla – In a significant revelation, Chief Minister Sukhvinder Singh Sukhu claimed a robust financial outlook for Himachal Pradesh, forecasting a noteworthy revenue increase of Rs. 1100 crore in the current fiscal year. The Chief Minister attributed this anticipated surge to a series of strategic measures implemented by the state government to curtail wasteful expenditure and enhance fiscal responsibility.
Chief Minister Sukhu acknowledged the impact of a recent natural disaster, expressing regret that the state’s projected revenue growth could have reached Rs. 1500 crore had it not been for this unforeseen setback. Despite the challenges posed by the disaster, Sukhu maintained an optimistic outlook for the state’s economic health.
However, the Chief Minister drew attention to constraints imposed by the Union Government, particularly in response to the state’s decision to implement the old pension scheme. These restrictions include a capped borrowing limit of Rs. 6600 crore for the fiscal year and a three-year limit of Rs. 2900 crore for externally aided projects. In contrast, Sukhu highlighted the responsible fiscal management of the current government, emphasizing a conservative borrowing approach with only Rs. 4100 crore borrowed in the ongoing financial year.
Addressing legal challenges and policy adjustments, Sukhu showcased the government’s commitment to rectifying delays and optimizing state assets. Amendments to lease rules, reducing the lease period from 99 to 40 years, were presented as measures aligned with public interest. The cancellation of the Jangi-Thopan-Powari project and ongoing legal efforts to reclaim the Wild Flower Hall further underscored the government’s proactive stance.
In pursuit of revenue diversification, Chief Minister Sukhu revealed an expected injection of Rs. 500 crore from enhanced liquor contract auctions. The government’s efforts to explore alternative revenue streams align with its commitment to economic resilience.
