Team News Riveting
Raipur, March 9
With no fresh tax burden, Chhattisgarh Chief Bhupesh Baghel on Wednesday presented a Rs 104,000 crore budget for the financial year 2022-23, an increase of over seven per cent compared to previous year’s outlay.
The capital expenditure has been proposed at Rs 15241 crore, about 10 per cent higher than the 2021-22 budget estimate and around 15 per cent of the total expenditure. Though the capital expenditure surge is nominal compared to Chhattisgarh’s sibling Jharkhand, experts feel the revenue surplus of Rs 702 crore will help accelerate infrastructure development in the state.
Baghel, who holds the finance portfolio since he took over as Chief Minister of Chhattisgarh in 2018, has presented the maiden revenue surplus estimates of his tenure.
A major share of the expenditure has been earmarked for the economic sector with 40 per cent followed by social sector (37 per cent) and general sector (23 per cent).
The state government has made the provision for many subsidized schemes doled out. The prominent include Rs 6000 crore for Rajiv Gandhi Kisan Nyay Yojana, increasing annual financial assistance given to beneficiaries under Rajiv Gandhi Bhoomiheen Krishi Mazdoor Nyay Yojana from Rs 6000 to Rs 7000 from the coming financial year, a provision of 600 crore to develop 3 Gauthans as Mahatma Gandhi Rural Industrial Park, a provision of Rs 450 crore for “Mor Zameen Mor Makaan” and “Mor Makaan Mor Chinhari” schemes to provide housing to families in urban areas living below the poverty line.
The MLA fund has been doubled, from Rs 2 crore to Rs 4 crore—that will cost Rs 364 crore additional to the state exchequer.
As of March 2021, the debt burden of the state is 80 per cent of the total budget. With an estimate of over Rs 10,000 crore for the 2022-23, the state’s dent is likely to cross Rs 1 lakh crore by the end of the next fiscal. The budget has also made a provision to exempt examination fees for applicants, who are domicile of the state, in all professional examinations conducted by the Chhattisgarh Professional Examination Board and the Chhattisgarh Public Service Commission.
The schemes of the state government have resulted in increasing the subsidy burden over the years. Despite attempts, the estimated figure for 2022-23 could not be received. In 2020-21, Chhattisgarh’s subsidized burden jumped a whopping 41 per cent from Rs 7,660 crore in 2019-20 to Rs 10,838 crore.
However, the Chief Minister is exploring the state’s approach to deal with the situation without cutting the development expenditure. A “Karai Vardhan Cell” will be set up to increase the state’s receipts.
