Slew of sops in Uttarakhand budget

The Uttarakhand government today announced a slew of proposals including exemption of stamp duty for agri loans of up to Rs 5 lakh, relief on value-added tax on petrol, umbrellas, CFL bulbs and mid-day meal scheme for all madrasas in its 2012-13 budget.

Presenting the budget, state finance minister Indira Hridayesh today announced that stamp duty has been exempted for agriculture loans up to Rs 5 lakh for benefits to farmers.

Relief has been provided on VAT on some select items like petrol, umbrellas, CFL bulbs.

The VAT relief on petrol will be Rs 1.87 on the recent hike of Rs 7.50 per litre, she said, adding that there will be a waiver on VAT on all types of umbrellas and VAT has been reduced to 4.5% on CFL bulbs from 13.5%.

Maulana Azad Education foundation will be set up in the state for giving financial assistance to poor and medium class minority community students for pursuing higher education. A mid-day meal scheme will also be introduced in all madrasas.

There will a separate minority welfare directorate for minorities. Some of the primary schools will be run in English medium through PPP mode.

An unemployment allowance will be given as per eligibility, Hridayesh said.
Presenting her maiden budget in the state assembly,
Hridayesh said there was a revenue surplus of Rs 441.84 crore.

She also said the fiscal deficit was around Rs 3,357.59 crore, which is within the limits of FRBM Act.

The total revenue receipts are estimated to be Rs 16,158.95 crore against last year's budget estimate of Rs 14,634.99 crore, an increase of 10.41% over the last year's budget estimate.

Tax revenue receipts are estimated to be Rs 9,368.71 crore in 2012-13 against last year's estimate of Rs 7,715.05 core.

The total expenditure for the year 2012-13 is estimated to be Rs 21,931.77 crore against last year's expenditure of Rs 19,366.91 crore showing an increase of 13.24 per cent.

The non-plan expenditure is around Rs 14,882.81 crore this year which is 67.86% of total expenditure with an increase of 16.25 per cent over previous year's budget estimate of Rs 12,802.62 crore.

The total plan expenditure is estimated to be around Rs 7,048.96 crore.

Capital expenditure is Rs 6,214.66 crore which is 22.28% higher than the previous year's budget.

Estimate of expenditure under loan repayment this year is Rs 2,297.13 crore, indicating a massive increase of 40.18% against the last year's estimates.
BS