Gujarat government presents a Rs 12,000 cr surplus Vote-on-Account

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SME Times News Bureau | 19 Feb, 2019
Gujarat's Vijay Rupani government on Tuesday presented a Vote-on-Account for the year 2019-20, showing an estimated surplus of Rs 12,241.40 crore and having no new tax proposals.

"Revenue receipts for the year 2019-20 are estimated at Rs 1,54,885 crore, while revenue expenditure is estimated at Rs 1,45,022 crore," Deputy Chief Minister Nitin Patel, who also holds the Finance portfolio, told media persons.

"Vote-on-Account proposal for period of four months up to July 31, 2019 has been presented before the House, as there is insufficient time to think over the demands of this year. Demands for the whole year will be discussed when the modified budget will be presented later in the year."

Patel said that the government did not levy any new taxes this time as tax income had increased following effective tax compliance and collections.

"In 2016-17, the tax income was Rs 64,443 crore which increased to Rs 71,549 crore in 2017-18," he said, adding that the 15th Finance Commission, during their recent visit to the state, had appreciated Gujarat's financial management.

In his budget speech in the assembly, the Finance Minister said that the GSDP was reported at Rs 13.15 lakh crore during 2017-18, up by 14 per cent over the previous year.

As per the revised estimates for 2018-19, the state is estimated to have a Rs 1,374.18 crore surplus as against the previously estimated Rs 783.02 crore.

Quoting CRISIL's latest State of Growth 2.0 report, Patel said that Gujarat's average annual economic growth rate in 2013-17 stood at 9.9 per cent at constant prices, which was highest among the states. In 2017-18, it registered growth of 11.2 per cent.

In his speech, Patel also said that the state's per capita income for 2017-18, at current prices, stood at Rs 1,71,652, an increase of 12.6 per cent over the previous year.

The state's share in in national industrial output stood at 16.8 per cent.

The minister also announced a One-Time Waiver scheme for electricity bills for poor families.

Outstanding dues, amounting to Rs 691 crore will be waived on principal, interest and penalty amount of electricity bills of all eligible domestic power connections of Below Poverty Line (BPL) consumers in urban and rural areas, he said.

He also said that Gujarat's agriculture production grew by 12.11 per cent and now contributed 7.3 percent in country's economy.

On the drought situation, Patel said the government had declared 6,174 villages of 96 talukas as scarcity-hit and 16.27 lakh farmers there were paid Rs 1,557 crore as assistance. The government had also introduced a special package of Rs 2,285 crore for over 23 lakh farmers and cattle owners of these talukas.

About the state's lifeline, the Narmada Canal project, he said that out of the total length of 71,748 kms of Sardar Sarovar canal network, 84 per cent or 60,427 kms had been completed.

He said that a provision of Rs 6,945 crore has been made for 2019-20 and that a total of 9,083 villages and 166 cities were supplied domestic water from this scheme.

Patel announced an increase in VAT subsidy on diesel for fishing boats from Rs 12 a litre to Rs 15. He also said in 2017-18, transportation through ports of the state, which has a 1,600-km-long coastline, stood at 311 million tonnes, or 31 per cent of the national total.

The Minister also announced that the much-awaited Ahmedabad Metro rail will begin its commercial run on a 6.5 km route in Phase-1 by March and that Prime Minister Narendra Modi would inaugurate it on March 4.