By Accommodation Times Bureau
Nitinbhai Patel, Deputy Chief Minister of Gujarat, presented Rs 1.92 Lakh Crore interim budget for the year 2019-20 in the State Legislative Assembly on February 19. The importance has been given to agriculture, social welfare, water supply, tribal development, health, education, women empowerment, energy and urban development.
Robust Revenue Trends
Revenue receipts of Rs 1,54,885 crore have been estimated for BE 2019-20 against Rs 1,40,531 crore for RE 2018-19. State tax revenue has been estimated at Rs 1,00,125 crore. All these figures indicate robust revenue trends without any intervention through the levy of new taxes or modification of existing tax structure.
This development-centric budget contains many important announcements as given below:
-Common Effluent Treatment Plant, Deep-sea pipeline and other related infrastructure in Ahmedabad, Vadodara and Jetpur through Public Private Partnership (PPP) at an estimated cost of Rs 2275 crore.
-Development of Green Field Airport with the latest facilities at Rajkot by the Airports Authority of India. The State Government has accorded the sanction to allocate required land free of cost for the project.
-Allocation of Rs 2000 crore made for the construction of roads and bridges.
-Construction of 75 flyovers, 45 in Municipal Corporation and 21 in Municipality areas.
-Provision of Rs 500 crores towards the creation of facilities for water, road, drainage and street light in areas under T.P schemes and areas merged into Municipal Corporations and Municipalities.
-Promote public transport in Municipal Corporations and A class Municipalities by increasing the number of buses to 2860 in a phased manner.
-Commercial operation of 6.5 Km route from Vastral to Apparel Park to commence by March 2019 under Ahmedabad Metro Rail Phase I.
-Rs 750 crore allocated for construction of railway over bridges / under bridges on railway crossings having more than 1 lakh Train Vehicle Unit over a three year period.
Prudent Fiscal Management
-The revised estimate of Fiscal Deficit for the year 2018-19 stands at 2.13% of GSDP which is well within the 3% ceiling prescribed under the FRBM Act.
-State’s Public Debt has been estimated at 15.76% of GSDP for the year 2019-20 as compared to16.16 % of GSDP for Revised Estimate of the financial year 2018-19.
-State Government’s own tax income was Rs 71,549 crore in 2017-18 which is estimated to increase to Rs 89,900 crores in the year of 2018-19.