CM Raman Singh presented Chhattisgarh Budget 2016-17
Posted on: 10 Mar 2016 14:19:38
10 March 2016 Current Affairs: Chhattisgarh Chief Minister Raman Singh on 9 March 2016 presented the Annual State Budget 2016-17 in the legislative assembly. This was his 10th successive budget as he also holds the portfolio of Finance Minister.The focus and attention of the budget is agriculture, Infrastructure, and social sector.The Budget pegged the Annual Development Plan for the year 2016-17 at 70056 crore rupees and estimated the Gross State Domestic Product (GSDP) at 7.6 percent in the fiscal 2016-17.Seven Pillars of Development: Farmers, Inclusive Development, Communications, Health, Security, Self-reliance and Capacity-building.Capital expenditure for infrastructure: Share of the sector in the budget was raised by 18.6 percent. In the fiscal year 2015-16, it was raised nu 16.9 percent. Social sector expenditure: It was increased by over 16 percent, with its share in the budget increasing from 37% to 40%.Agriculture Department’s budget: It was increased by 26 percent.Infrastructure Development of road network plans to construct 13,000 km road length with an investment of Rs. 42,000 crore over the next three years. Government decided to develop 780 kilometres of railway lines on three arterial routes.Electricity: It will be provided to un-electrified 818 villages and all 9000-plus un-electrified schools by March 2017.Urban development: 225 crore rupees was allocated for AMRUT Mission. Under this, sewerage system for Raipur has been approved at a cost of 650 crore rupees.Education: 7 general public universities will each receive 20 crore rupees, while Agriculture and Animal Husbandry Universities will together get another 40 crore rupees.Agriculture:200 crore rupees was allocated for launching Pradhan Mantri Fasal Bima Yojana.The outlay for irrigation projects this year stands increased by 173 crore to 2891 crore rupees.Tax concessions:In order to create a level playing field for local retailers competing with online retailers, VAT on mobile phones has been reduced from 14% to 5%.For the state’s steel industry, the Chief Minister announced reduction in theVAT rate on iron ore, pig iron, sponge iron, iron ore pellets, ingots, billets and ferro-alloys from 5% to 2%.
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