Analysis of State Budgets 2022-23
2022-03-19 | Rituraj
What is a Budget?
A budget shows receipts and expenditures as well as Fiscal Deficit, Revenue Deficit, Effective Revenue Deficit and Primary Deficit of a government. It also gives account of sources of receipts and their expenditure. It also gives insights on the allocations done by government for various programs and schemes.
Fiscal Deficit is the difference between the Revenue Receipts plus non-debt capital receipts and the total expenditure. It reflects the borrowing needs of the government.
Revenue Deficit is the excess of revenue expenditure over revenue receipts.
Effective Revenue Deficit is the difference between Revenue Deficit and Grants for Creation of Capital Assets.
Primary Deficit is measured as Fiscal Deficit less interest payments.
Click on the link to read about Union Budget 2022-23.
The budgets presented by various states for the financial year 2022-23 are given below:
Haryana Budget 2022
- Haryana Chief Minister Manohar Lal presented Rs 1.77 lakh crore budget for FY 2022-23.
- The budget estimates a fiscal deficit of 29618 crore rupees and the primary deficit of 8623.84 crore rupees.
- The total revenue receipts are projected to be 1,06,424.70 crore rupees.
- The government has allocated Rs 530.94 crore for Environment, Forests and Climate Change. A 150-km long nature trail from Kalka to Kalesar will be established.
- Haryana Government will give soft loans to women entrepreneurs whose families' annual income is less than Rs 5 lakh.
- The government has allocated Rs 2,0250.57 crore for the education sector and 47255.37 crore rupees will be spent on social services.
- Chief Minister Manohar Lal announced the construction of six new 100 bed hospitals and 14 new ESI dispensaries.
- The government will start subject-wise Olympiads for Class 8 to 12. Scholarships will also be provided to the winners of Olympiads.
- Child Lab Rehabilitation Centres will be opened at Gurugram and Faridabad.
- The government will give the 'Sushma Swaraj Award' to women from Haryana who have made significant contributions in different fields. This award has been instituted in the memory of late Sushma Swaraj.
- CM Manohar Lal Khattar announced a new scheme ‘Haryana Matrushakti Udaymita Scheme’ to provide support to women entrepreneurs.
Himachal Pradesh Budget 2022
- Himachal Pradesh government presented budget for FY 2022-23.
- Himachal Pradesh Chief Minister Jai Ram Thakur has presented the state budget for FY 2022-23 at the state assembly.
- He stated that the old age social security pension would be increased from Rs. 1001 to Rs. 1500.
- The government has reduced the age limit for getting such pensions from 70 years to 60 years without any income limit.
- The Chief Minister also declared that the fund for Members of Legislative Assembly Local Area Development Scheme (MLALAD) will be increased from 1.80 crore to 2 crore.
- The Chief Minister also stated that the discretionary grant for MLAs will be increased from 10 lakhs to 12 lakhs per year in the next financial year.
- The Chief Minister has announced the creation of 500 new doctor positions.
- Thakur declared that the Himcare card would need to be renewed every three years instead of every year in order to receive free health services for a variety of ailments.
Madhya Pradesh Budget 2022
- Madhya Pradesh government has presented a Budget of Rs 2,79,237 crore on 09 March 2022.
- In the state budget 2022-23, no new tax has been announced and there is no change in existing ones.
- This announcement was made by Madhya Pradesh Finance Minister Jagdish Dewda in his second Budget speech.
- The budget laid emphasis on rural housing and employment generation.
- The budgetary allocation to self-help groups and Rural Development department has been increased by 141% and 74%, respectively.
- The budgetary allocation to the Panchayat department has been increased by 36%.
- Madhya Pradesh Finance Minister Dewda has promised 10 lakh homes under PM Aawas Yojana in the current fiscal year.
- He proposed to cut the budget of Urban Development and Housing department by 1%.
- The allocation of Rs 370 crore for a statue of Adi Shankaracharya and Advaita Vedanta Monastery in Omkareshwar, in Khandwa district has also been announced.
- Madhya Pradesh Finance Minister said expansion work for Mahakal Temple is being carried out at a cost of over Rs 700 crore.
- He also announced 13,000 teachers will be recruited in 2022-23.
- State government has for the first time presented a 'child budget' as part of the annual financial plan, allocating Rs 57,800 crore for 220 schemes.
- Finance Minister said the estimated fiscal deficit was Rs 52,511 crore. This is 4.56% of Gross State Domestic Product (GSDP).
Maharashtra Budget 2022
- Maharashtra Deputy CM and Finance Minister Ajit Pawar presented the state Budget 2022.
- A revenue deficit budget was presented by Ajit Pawar in the Maharashtra assembly with a total outlay of Rs.5.84 lakh crore (13% higher than Budget Estimates for 2021-22).
- FM of Maharashtra said that Maharashtra will become the first state to have a $1 trillion economy.
- The economy of Maharashtra will grow by 12.1% which is higher than the expected growth rate (8.9%) of the Indian economy.
- To achieve the above-mentioned goals, the government launched new five-point development agenda called Panchasutri of Development. Rs 4 lakh crore will be made available in the next three years for this programme.
- The five elements of Panchasutri are agriculture, health, human resource, transport and industry.
- The state has focused on building both physical and social infrastructure. This will result in higher job creation, increase income and boost the state’s economy.
- The state is also focusing on establishing a safe and fast transportation system to promote industrialization, tourism and agriculture.
- The government will waive off the loan of Land Development Bank worth Rs 964 crore for 34,788 farmers and also clear Rs 275.40 crore dues of bank employees.
- In health sector, the budget proposed to establish 100-bed women hospitals in 16 districts and a state-of-the-art ‘Indrayani Medicity’ near Pune city. Telemedicine centres will also be set up in every district hospital through ‘Shiv Arogya Yojana’.
- The budget proposed mobile services to 1.2 lakh Anganwadi workers and supervisors through e-Shakti Yojana and the setting up of Amrut Mahotsavi Mahila and Bal Bhavan in every district.
- Hindu Hruday Samrat Balasaheb Thackeray Samruddhi Highway will be extended from Nagpur to Bhandara-Gondia and Nagpur to Gadchiroli.
- Government has announced a new scheme- “Pandita Ramabai Smriti Shatabdi Mahila Udyojak Yojana”. Under the scheme, there is a provision of a 100% interest refund to start a self-employment project for women who lost their husbands due to COVID-19.
- The budget proposed GST amnesty scheme (named Maharashtra Settlement of Arrears of Tax, Interest, Penalty or Late Fee Scheme, 2022) and reduction in VAT on compressed natural gas (CNG) from 13.5% to 3% and reduction in stamp duty.
- Maharashtra government has allocated Rs 100 crore for improvement works in slum areas outside Mumbai.
- As per the economic survey of the State, the service sector accounts for about 60% of the state’s economy and is expected to grow by 13.5%.
- As per the Budget estimates, revenue receipts will be Rs. 4,03,427 crore and revenue expenditure will be Rs. 4,27,780 crore.
- The allocations to major sectors are given in the below table:
Agriculture and allied sectors
Rs 23,888 crore
Rs 5,244 crore
Human development and human resources
Rs 46,667 crore
Rs 28,605 crore
Industry and energy sectors
Rs 10,111 crore
Mizoram Budget 2022
- Mizoram CM Zoramthanga presented state budget for financial year 2022-23 with a total outlay of Rs 14,008 crore.
- He also tabled the supplementary demands for grants for the fiscal year 2021-22, totaling to Rs 6,025.44 crore.
- He said that the state is facing major financial problems because of the inadequate release of the share of taxes from the Centre.
- In the budget, there is no proposal for levying new taxes or increasing existing tax rates.
- Out of total outlay of Rs 14,008 crore, 28.57% has been kept for capital expenditure. CM said that the aim is to keep a revenue surplus of Rs 1,419.69 crore.
- The government will explore all possible avenues to augment the revenue income with the formation of Mizoram Resource Mobilization Committee.
- CM said that Gross State Domestic Product (GSDP) for 2022-23 is estimated to be Rs 39,458.50 crore.
- The funds for implementation of Mizoram government's flagship Socio-Economic Development Policy (SEDP) has been increased from Rs 400 crore in the previous budget to Rs 700 crore for 2022-2023 fiscal.
Kerala Budget 2022
- Kerala government presented budget for 2022-23 FY.
- Kerala government presented the state budget in the Assembly. Government has focused on the knowledge economy and linking skill with manufacturing.
- In the Budget for 2022-23, the government has announced the setting of four science parks and 14 district skill parks for young entrepreneurs.
- The government has allocated Rs 2000 crores for four IT corridors, a Kerala genomic data center for health care, and 20 micro-IT parks.
- Translational research centers will be developed in university campuses.
- Kerala Infrastructure Investment Fund Board (KIIFB) would give Rs 2,000 crore for land acquisition for the proposed semi-high speed rail corridor.
- The state government is aiming for net-zero carbon emission by 2050. The government will also launch the ‘Suchithwa Sagaram’ scheme for removing plastic waste from the sea and water bodies.
- The government will impose a green tax on diesel vehicles. The green tax imposed on old vehicles (above 15 years) has been increased by 50 percent.
- The state government will spend Rs 10 crore for the education of medical students who have returned from war-torn Ukraine.
- Kerala government will also organize a ‘Global Peace Conference’ in the wake of the Russia-Ukraine war.
Rajasthan Budget 2022
- Rajasthan government presented budget for financial year 2022-23.
- Chief Minister of Rajasthan Ashok Gehlot has presented the budget of Rajasthan for the Financial Year 2022-23.
- A separate agriculture budget has been presented by the government in the assembly.
- Chief Minister of Rajasthan announced the formation of the Rajasthan Industrial Security Force.
- Under Indira Gandhi Shahri Rozgar Guarantee Yojna, 100 days of employment will be given in urban areas.
- Rajasthan government will increase the employment days from 100 to 125 under MGNREGA.
- Electricity up to 50 units per month will be provided for free.
- The government has increased health cover from Rs 5 lakh to Rs 10 lakh per family in a year.
- The government has allocated Rs 5,000 crore for CM Krishak Saathi Yojna.
- The government has allocated Rs 2,700 crore for the Rajasthan Micro Irrigation Mission. It will benefit more than 5 lakh farmers.
Telangana Budget 2022
- Telangana’s Finance Minister T Harish Rao presented 2.56 lakh crore budget for financial year 2022-23.
- The budget for the 2022-23 financial year is Rs 26,000 crore higher than the budget for 2021-22.
- In this Budget, the total expenditure has been proposed at Rs 2,56,858.51 crore.
- The Government will be spent Rs 17,500 crore on the Dalit Bandhu Scheme.
- The revenue expenditure has been estimated at Rs 1.89 lakh crore and capital expenditure at Rs 29,728 crore.
- The government allocated Rs 14,800 crore to Rythu Bandhu scheme and Rs 12,000 crore to Aasara pensions scheme.
- The government would waive crop loans up to Rs 50,000 by March-end in the current fiscal.
- The government will provide financial assistance to construct houses with a unit cost of Rs 3 lakh each.
- The Government has allocated ₹7,289 crores to Mana Ooru, Mana Badi programme for strengthening basic infrastructure in schools.
- The government will also launch an insurance scheme for handloom and power loom workers.
- Telangana Finance Minister also announced the ‘KCR nutrition kit’ scheme. It will help in overcoming the problem of acute anaemia among pregnant women in nine districts
- Telangana’s GSDP growth in 2021-22 is 11.2 percent at a constant price while GSDP growth at the current price is estimated at 19.1 percent.
- Telangana's per capita income has increased to Rs 2,78,833. It is 1.86 times the national average income.
The budget-related questions are very common in competitive exams. The above summary of state budgets is an important part of Current Affairs 2022 for state pcs exams.