Himachal CM presents Rs 50,192 cr populist Budget

Shimla, March 6 : Himachal Pradesh Chief Minister Jai Ram Thakur on Saturday presented a Rs 50,192 crore populist but deficit Budget for 2021-22, with no provision for any new taxes despite the coronavirus pandemic.
In the Budget, the CM proposed to set up a bulk drug park in Una district, an electronics and power equipment manufacturing hub in Nalagarh, beides the setting up of toy manufacturing clusters.
The Budget amount is Rs 1,061 crore more as compared to 2020-21.
In his paperless speech, Thakur, who also holds the finance portfolio, said that it is a matter of pride that the government is presenting a Budget of more than Rs 50,000 crore on the completion of 50 years of statehood of Himachal Pradesh.
“During 2021-22, the total revenue receipts are estimated at Rs 37,028 crore, whereas the total revenue expenditure is estimated to be Rs 38,491 crore. Thus, the total revenue deficit is estimated at Rs 1,463 crore. The fiscal deficit is estimated to be Rs 7,789 crore, which is 4.52 per cent of the Gross State Domestic Product,” he said.
“Out of every hundred rupees to be spent by the government in 2021-22, Rs 25.31 will be spent on salaries, Rs 14.11 on pension, Rs 10 on interest payment, Rs 6.64 on loan repayment and Rs 43.94 will be spent on development works and other activities,” he added.