On Wednesday, the Himachal Pradesh Assembly passed the annual budget for the financial year 2023-24, along with the Appropriation Bill. The budget empowers the state government to spend a total of Rs 5,66,83.69 crore from the consolidated fund. The Chief Minister of the state, Sukhvinder Singh Sukhu, presented the budget on March 17. The budget primarily focused on making Himachal Pradesh a green state, with special emphasis on health, education, road construction, building of social sector infrastructure, and improving the financial position of the state.
The demands with respect to the public works department and Jal Shakti, health, and education department were discussed and voted on during the assembly session. However, the remaining demands were passed without discussion as the Speaker applied guillotine.
The budget reflects a revenue deficit of Rs 4,704 crore, while the estimated fiscal deficit is Rs 9,900 crore, which is 4.61 per cent of the Gross State Domestic Product. Out of every 100 Rupees spent, Rs 26 will be spent on salary, Rs 16 on pension, Rs 10 on interest payment, Rs 10 on loan repayment, Rs 9 on grants to autonomous institutions, and Rs 29 on other activities including capital works.
The budget also includes several major announcements, such as Rs 1,500 per month to 2.31 lakh women, restoration of the Old Pension Scheme benefiting 1.36 lakh employees, and subsidies for promoting solar energy and other green initiatives.
Overall, the budget for 2023-24 has laid down a roadmap for the development of the state, while keeping in mind the environmental concerns. The budgetary allocations will provide a major boost to the health, education, and infrastructure sectors, and benefit the people of the state in the long run.
