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VAT surcharge to create resources

March, 11th 2010
The Haryana Budget for 2010-11 presented on Wednesday increased the total Plan outlay marginally by Rs 100 crore to Rs 10,500 crore and proposed to impose a surcharge on value-added tax to generate additional resources for local bodies, including panchayats. In addition to it, an outlay of Rs 1,363.58 crore for the Centre-sponsored and other development plan schemes has been included in the estimates, boosting the composite plan outlay in the Budget estimates at Rs 11,863.59 crore. Further, to generate additional revenue resources for local bodies, a surcharge of 5% has been imposed on value-added tax on different items, including petroleum, food items, electrical appliances and sanitary fittings, to raise about Rs 300 crore annually for local bodies, including panchayats. Of the additional resources generated through VAT, 80% would go to urban bodies and the rest to local bodies, the minister said. Yadav stated that financial year 2009-10 opened with a deficit of Rs 602.41 crore as per RBI books and is likely to be closed with a deficit of Rs 634.06 crore, representing a transaction deficit of Rs 31.65 crore during the year on annual account. Presenting the budget estimates for FY2010-11, he said the total expenditure (excluding repayments) under the budget estimates is projected at Rs 33,600.84 crore, of which revenue expenditure is Rs 28,482.64 crore, while the capital expenditure is Rs 5,118.20 crore. These signify, respectively, an increase of Rs 2,004.73 crore, Rs 1,818.49 crore and Rs 186.24 crore over the corresponding projections in the revised estimates 2009-10. Out of the total plan outlay, agriculture and allied sector has been allocated Rs 1,073.62 crore, while power sector got Rs 4,642.71 crore. Roads & transport sector has been allocated Rs 1,142.10 crore and irrigation Rs 1,616.49 crore. Education sector, including industrial training and technical education, has received Rs 6,377.41 crore, while health sector got Rs 1,125.48 crore. Allocation made to water supply and sanitation sector is Rs 1,297.69 crore and urban local bodies Rs 1,447.14 crore.