The Uttarakhand government presented a tax-free, revenue surplus budget for 2013-14 amid uproar in the Assembly on Wednesday. While no new tax proposal has been made in the Budget, the total receipts are estimated to be Rs 24,940 in 2013-14 as against Rs 21,043 in 2012-13, showing an increase of 18.52 per cent. Finance Minister Indira Hridyesh said total expenditure in 2013-14 is estimated to be about Rs 25,329 crore as against 21,931 crore in 2012-13, showing an increase of 15.49 per cent. The government has proposed to reduce stamp duty from present two to one per cent in case of gift deeds in favour of family members. The government has proposed a "gender budget" with a provision of Rs 3,262 crore, which is 45 per cent higher than that in 2012-13.
With the CAD being an all time high & RBI's capacity to control only up to a maximum of 2.4% of the GDP, the budget at its face value seems unrealistic.Expectations/estimations of receipts vis-a vis the expenditure seem to be on the high after accounting of the Hill Districts productivity as dismally low.The entire exercise appears to be an election oriented one.Notwithstanding this,reduction of stamp duty by 1% is welcome.
With the CAD being an all time high & RBI's capacity to control only up to a maximum of 2.4% of the GDP, the budget at its face value seems unrealistic.Expectations/estimations of receipts vis-a vis the expenditure seem to be on the high after accounting of the Hill Districts productivity as dismally low.The entire exercise appears to be an election oriented one.Notwithstanding this,reduction of stamp duty by 1% is welcome.
IndianExpress
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