Rajasthan Chief Minister Vasundhara Raje presented an interim budget without any new tax or relief for the first quarter of fiscal year 2014-15, while laying emphasis on controlling the revenue and fiscal deficits estimated at Rs.2,505 crore and Rs.18,301 crore respectively.
Ms. Raje, who also holds the Finance portfolio, said in her budget speech in the Assembly that the fiscal deficit was likely to be 3.56 per cent of the Gross State Domestic Product (GSDP) of Rs.5,13,688 crore, which was beyond the ceiling of 3 per cent laid down by the Fiscal Responsibility and Budget Management (FRBM) Act.
“The total expenditure during 2014-15 has been estimated at Rs.1,12,955 crore. Against the revenue expenditure of Rs.90,752 crore, the revenue receipts will be Rs.91,483 crore. We are committed to bringing the fiscal deficit to less than 3 per cent of the GSDP,” she said.
The House passed the vote-on-account by a voice vote after the interim budget was presented, amid walkout by the Opposition Congress, the National People’s Party and Independent MLAs on a breach of privilege issue.
Ms. Raje announced an estimated Plan outlay of Rs.46,989.33 crore for the next financial year. She said the State government would launch ambitious projects to extend direct benefits to people. “Our priority is to strengthen social and economic infrastructure. We will formulate plans for generating solar power, upgrading major district roads as mega-highways and supplying drinking water to underserved and problematic villages.”
Ms. Raje later told journalists that the government would continue work on the oil refinery project in Barmer district and the Jaipur Metro Rail Project, started by the Ashok Gehlot regime, with revised budgetary allocations. The estimated budget for the refinery would be Rs.402 crore and that for Jaipur Metro’s first phase Rs.486 crore during 2014-15.
