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With an eye to the Assembly polls in December, Gujarat Deputy Chief Minister Nitin Patel, who also holds the Finance portfolio, on Tuesday presented a budget that aims to please all sections with something on offer.
The annual budget, first for the Vijay Rupani government, was bigger in size at ₹1.72 lakh crore, with surplus estimates of ₹ 521.3 crore for 2017-18.
In the revised estimates for the 2016-17 budget, as against the expected surplus of ₹245.49 crore for the year 2016-17, now the surplus of ₹1,342.93 crore is expected in the revised estimates due to net transactions, Patel said.
No new taxes
For the year, 2017-18, total revenue expenditure is estimated at ₹1,25,455.63 crore, while capital expenditure is estimated at ₹45,376.34 crore. The revenue receipts are estimated at ₹1,31,521.23 crore and the capital receipts are estimated at ₹33,974.90 crore.
While Patel refrained from introducing new taxes or increasing the existing value added tax (VAT), he announced implementing the Goods and Services Tax (GST) from July this year. He further said that payment of taxes exceeding ₹10,000 will have to be made mandatorily through e-payment.
Bonanza for students
Patel made special announcements for students in the state by offering cycles for 45,000 female students of class IX under Vidya Sadhna Yojana, free uniform and textbooks to over 60 lakh primary students and subsidised tablets for about 3.5 lakh first year college students. The government will also waive 100 per cent tuition fees for female medical students.
Facing the ire over women atrocity incidences in the state, the government has proposed to set up 26 dedicated units for investigation of crime against women and new jails at Godhra, Anand and Botad.
Power subsidy for farmers
Patel also offered subsidised power to farmers with an allocation of ₹4,011 crore, and ₹400 crore for free power to village water works. Allocation of ₹5,100 crore is made to take Narmada water to the Kutch region. Apart from providing assistance to instal solar pump sets, the state government will also provide farm loans at the 1 per cent interest rate, which will be a big relief for farmers, noted Patel.
Agricultural tractors, however, attracted a downward revision in lumpsum tax at three per cent, from 3.5 per cent, thereby resulting in direct benefit of at least ₹3,000 for farmers.
Highlights
- Autonomous State Food Commission for overseeing functioning of Food Security Act
- A new corporation for welfare of differently-abled persons
- Tribal University to be set up in Narmada District
- Allocation of Rs 82 cr to set up Organic Agriculture University
- Monthly old age support of Rs 1000 to registered construction workers
- Additional 2540 Mw power generation capacity to be set up to existing 25,256 Mw by 2020
- Rs 22.5 crore provision for subsidised kerosene to fishermen using fiber reinforced boats for 1st time
- Rs 1340 crore allocation for 1 lakh affordable houses in urban areas
- Rs 30 crore allocated for diamond DREAM city project in Surat
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