Das Budget tries to please all

Vijay Deo Jha | Ranchi |

Saturday, March 6, 2010

From sweet lovers to agriculturists to common men, Finance Minister Raghuwar Das tried to make everybody satisfied with a Budget which he christened as the budget of overall development of Jharkhand.

Amid uproar by the Opposition, Das presented the Finance Budget 2010-11 of Rs 22,297.59 crore where he sought Rs 11,993.18 crore and Rs 10,304.44 crore respectively under non-plan and plan head.

Announcing that the State Government was determined to accelerate Gross Domestic Product of Jharkhand to 10 per cent; Das was confronted with another greater challenge to limit the loss to the State Exchequer by 2.50 per cent. He said that the Government is expecting the growth of the per capita income by Rs 30,000.

The State Government tried to show its concern for aam admi and announced to lower down the taxes and complete exemption of the taxes on nearly 16 items.

The Government exempted rice, wheat, onion, potato and some other items, including footwear made of rubber and plastic, solar battery, henna, snacks produced by the cottage industry, from tax.

The Finance Minister announced to lower down VAT on helmet, motor parts, sweets, salty snacks and ice-cream from 12.5 to 4 per cent. The State Government also gave some respite to the petroleum dealers by lowering VAT on diesel from 20 per cent 18.

Later at a Press conference, the Minister accepted that large heartedness will incur loss to the State exchequer. “But we have decided to explore other sources of income and create atmosphere for the more revenue generation to compensate it,” he said.

The Government tried to exhibit a fine balancing act between agriculture and industry. Though, there was no word over how the Government plans to create an atmosphere for industrial development and investment in Jharkhand except ‘Single Window System’ and ‘Jharkhand Infrastructure Development Authority.’

There was a grumble in the industrial sector after Das did not carry any candy for industry to please. In fact the department of industry got a paltry share in allocation 1.28 per cent of the total layout.

“Agriculture”, Das said, “constitute the bedrock of the development of the State. If I get a chance to rule the sky I will pluck all the stars to give it the State.” He read out a couplet to show his seriousness to develop agriculture.

The Minister announced to start several measures for effective marketing of the agricultural products, investments and creating employment opportunity in agriculture.

Insurance for farmers, Tilka Manjhi Krishi Pump Yojna, fish farmers’ credit card, lowering down interest rate of the Kishan Credit Card from 7 per cent to 4 per cent under some given condition and special operation in 15 districts to improve the cultivation of pulses under National Food Security Mission were some other measures; Das tried to please the farmers.

Das said the Government planned 5 per cent growth rate in the agriculture sector. He dedicated Rs 260 crore for the development of agriculture. But the Opposition was not happy. “Budget is a finely worded fraud on the people specially farmers…no solid commitments and plan on how to help poor farmers from the debt trap since after Jharkhand has been passing through a tumults phase of draught. The government instead cut down the budgetary allocation of some of the key departments that are directly associated with farmers and rural sector,” Congress leader Sukhdeo Bhagat countered.

The Budget earmarked Rs 475 crore for irrigation and announced to expand the total irrigated area up to 57,085 hectares in the next fiscal year. Rs 1,000 for rural development, 80000 new vacancies, direct recruitment to matriculated tribal candidates in the job, special training to the rural youths, Rs 70 crore for conducting elections of Panchyat Raj institution were the part of the Budget.

Institution like National Rural Employment Guarantee Act (NREGA) and its execution remained the key concern of the government. Hence, Das announced Rs 2500 crore for NREGA.

Under urban development Das announced to prepare feasibility report for metro rail projects in major towns of Jharkhand. He also announced new flyovers, proper drainage and others.

He announced to open 300 new schools in Jharkhand, medical colleges on the basis of public-private-partnership in Bokaro and Ghatsila, new ITI and women polytechnic institutes and others were announced by Das.