Himachal Budget: Himachal May Get Rs 18,141.47 Crore From Central Transfer
If we examine the budget estimates of state receipts, the state will earn Rs 18,739.39 crore from all its own sources. Himachal can get Rs 18,141.47 crore from central transfer, of which the state’s share in central taxes will be Rs 10,124.20 crore and other central transfer will be Rs 8,017.27 crore.
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In the budget for the upcoming financial year 2024-25, Rs 14,687 crore is going to be spent on the salaries of state employees alone, while Rs 9,961 crore is going to be spent on pension, and Rs 11,700 crore is going to be spent on repaying loans and interest. Rs 1438 crore is going to be spent on social security pension and Rs 2,700 crore is going to be spent on maintenance. The budget estimates of Rs 58,444 crore presented by Chief Minister Sukhvinder Singh Sukhu on Saturday have been presented. According to the budget estimate, Rs 278.46 crore is going to be spent on daily wage, Rs 2,280.90 crore on grant-in-aid for salary and Rs 577.09 crore on honorarium.
3,001.10 crore on grant-in-aid for non-salaries, 798.54 crore on grant-in-aid for capital assets, 6,255.34 crore on interest, 5,507.30 crore on loan repayment, 1,188.62 crore on gratuity, 1438.48 crore on social security pension and energy charges. But Rs 507.23 crore is going to be spent. Rs 5,782.31 crore is going to be spent on major works, Rs 175.95 on investment, Rs 1463.02 on other charges, Rs 430.60 on materials and supplies, Rs 90.50 on machinery and equipment and Rs 609.01 crore on others.
Rs 15,100.69 crore will come from the state’s own taxes and Rs 3,638.70 crore will come from non-taxes –
If we look at the income of Himachal from its own taxes and non-taxes, then Rs 15,100.69 crore is going to be earned from the state’s own taxes and Rs 3,638.70 crore is going to be earned from non-taxes. Talking about our tax income, the target of collection of State Goods and Services Tax is Rs 6,552.00 crore, which is going to be 43.39 percent of the total tax income. Land revenue will be Rs 17.84 crore and income from stamp and registration will be Rs 625.53 crore.
Income from state excise will be Rs 2,884 crore –
The income from state excise will be Rs 2,884 crore, which will be 19.10 percent of the total tax income. The target is to earn Rs 2,080 crore from VAT, which is going to be 13.77 percent of the total tax income. 902.25 crores are going to come from tax on vehicles. There will be an income of Rs 65.82 crore from passenger and goods tax, Rs 550.85 crore from electricity duty and Rs 1,422.40 crore from other taxes. If we look at the target of income from non-taxes, then Rs 2,017.26 crore is going to be earned from energy, Rs 87.11 crore from forest, Rs 353.62 crore from mining and Rs 1,180.71 crore from others.
Himachal may get Rs 18,141.47 crore from central transfer –
If we examine the budget estimates of state receipts, the state will earn Rs 18,739.39 crore from all its own sources. Himachal can get Rs 18,141.47 crore from central transfer, of which the state’s share in central taxes will be Rs 10,124.20 crore and other central transfer will be Rs 8,017.27 crore. The CCS grant, which will also include loans, will be Rs 5,272.22 crore. In this way the total revenue receipts will be Rs 42,152.08 crore. The total revenue expenditure will be Rs 46,666.63 crore. In this, the expenditure on states’ own schemes will be Rs 42,788.36 crore and on centrally sponsored schemes it will be Rs 3,878.27 crore.
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