Government of Chhattisgarh Finance Department Press Note Budget 2024-25
10-Feb-2024
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Chhattisgarh Budget 2024-25
The Budget for the year 2024-25 was presented today by the Hon'ble Finance Minister. This is the first budget presented by newly formed government as “Amritkaalkeneev ka Budget”. The budget is focused on the prosperity for Gareeb, Yuva, Anndata&Naari (GYAN) and stimulating infrastructural growth by increasing capital expenditure, and employment &livelihood promotion for youth of the state.The budget is an important step towards fulfilling promises under "Modi ki Gaurantee"
With a vision to emerge as a developed state in the Amritkaal, “Amrutkaal: Chhattisgarh Vision @2047” shall be preparedby 1st November 2024 for an inclusive development and growth in all sectors. The first mid-term goal, helping us in achieving this vision, shall be the target to double our state’s GSDP in next 5 years from 5 lakh crores to 10 lakh crores by year 2028.
We present this budget with a deep sense of responsibility for developing the economic situation by overall development of women, youth, poor, farmers, landless labourers, and tribals.
“Humnebanayahai, Hum hi Sawaarenge”, we have drafted 10 Fundamental Strategical Pillars which will assist us to achieve our midterm & long term goals by 2047.
Focus of our Economic Development: Gareeb, Yuva, Anndata&Naari (GYAN)
Rapid Economic Growth through Technology driven Reforms in Governance
Maximum capital expenditure
Optimum utilization of Natural Resources
Emphasis on new possibilities of service sector of the economy
Ensuring private investment
Focus on Bastar-Surguja
Decentralized Development Pockets (DDP)
Promoting Chhattisgarhi Culture
Importance of Implementation
Budget at a Glance
Fiscal Status
As a result of positive efforts made to increase the revenue of the state, the States Own Revenue is estimated to increase by 22 percent without imposingnew tax or increment on the tax rates
In FY 2024-25, the Gross Fiscal Deficit of the state is estimated to Rs. 19,696 Crores (including Rs. 3,400 Crores of Special Assistance for Capital Expenditure by GoI). Hence, the Net Fiscal Deficit of the state is estimated to Rs. 16,296 rores which is 2.90% of GSDP. This is within the limit of 3 percent set in the FRBM Act.
Total revenue surplus estimated in the year 2023-24 is of Rs 1,060 Crores.Chhattisgarh is among the progressive states which maintain a revenue surplus status.
The Capital Expenditure of the state for FY 2024-25 is proposed to be around Rs. 22,300 Crores, which is 15% of the total budget and 20% higher than the FY 2023-24.This is up from last 5 years’ average Capital Expenditure of 12%.
Comparison of major Fiscal Indicators YoY growth with India
Economic Situation
The Gross State Domestic Product (GSDP) for the current FY 2023-24 is projected to grow at 6.56% (at constant price) over quick estimates of FY 2022-23. This is lower than the projected national GDP growth rate of 7.3%.
In the current FY 2023-24, Agriculture sector is projected to grow by 3.23% as compared to growth of 1.82% by India, Industrial sector by 7.13% as compared to growth of 7.93% by India and Services sector by 5.02% as compared to growth of 7.72% by India at constant price.
At current prices, the Gross State Domestic Product (GSDP) is projected to increase from 4, 64,399 crores in 2022-23 to 5, 05,886 crores in 2023-24, which is an increment of 8.93%.
As per quick estimates of FY 2023-24, the contribution in GSDP by Agriculture sector is 15.32% compared to 14.41% at national level, Industrial sector is 53.50% compared to 30.97% at national level and Service sector is 31.19% compared to 54.62% at national level.
In 2023-24, per capita income is expected to grow by 7.31% to Rs 1, 47,361 per annum which is lower than national per capita income of Rs. 1,85, 854 which has grown by 7.9%.
Modi ki Guranteee
This budget is dedicated to “fulfill promises of “Modi ki Gurantee for Chhattisgarh” by
Provision Rs. 8,369 Crore for construction of 18 lakhs houses under Pradhan Mantri Awaas Yojanaand Rs. 3,799 Crore in 2nd Supplementary of FY 2023-24
Provision to empower women by assistance of Rs. 12,000 per year under MahtariVandan Yojana
Provision of Rs. 10,000 Crores under Krishak Unnati Yojanato benefit more than 24.72 lakh farmer which is an increase of 2.3 Lakh farmers from 22.4 Lakh farmers in the last year
Provision of Rs. 4,500 Crores under Jal Jeevan Missionto expedite completion of works for ensuring tap water supply for all households.
Provision for payment of Rs. 5,500 per 'manak boraa' for Tendupatta collectorsup from Rs 4,000 per maanakboraa in last year
Provision of Rs. 500 Crores under Deendayal Upadhyay Bhoomiheen Krishi Majdoor Yojanafor annual payment of Rs 10,000 to landless labourers up from Rs 7,000 in last year.
Provision for implementation of Chhattisgarh Uddyam Kranti Yojanafor promoting self-employment of youth.
Provision for making detailed plan for the development of State Capital Region (SCR)
Provision of Rs. 5 Crores for organizing Invest Chhattisgarh
Provision of Rs. 5 Crores for making detailed plan for development of 5 ShaktiPeethof the state.
Provision of Rs. 35 Crores for Shree Ram Lalla Darshan for residents of the state.
This budget is a sincere effort by our government to fulfill the promises made to the people under 'Modi ki Guarantee'.
Sector-wise Major Allocation
Major Increase in Department’s Budget
Focus on IT based Reforms
Provision of Rs. 266 Crores for focus on digital advanced technologies and IT Enabled Services (ITES) from State Headquarters to Gram Panchayat level for all Administrative Departments to strengthening administrative work and bringing transparency at all levels.
Provision of Rs. 66 Crores for Bharat Net Project
Provision of Rs. 37 Crores for P.M. Vaani Project
Provision of Rs. 15 Crores for Integrated eProcurement Project.
Provision of Rs 5 Crores for Atal Dashboard
Development of Business Intelligence Unit by GST Department, NGDRS Software by Land Registration Department, Software by Excise Department, Khanij Online 2.0 by Mining Department, State Water Information Centre by Water Resource Department, IFMIS 2.0 by Finance Department
Decentralized Development Process
Development of State Capital Region (SCR) around Raipur-Bhilai area for world class IT Sector, Wedding, Education & Health Destination.
Livelihood Center of Excellence to be formed in Nava Raipur
Center of Entrepreneurship to be formed in Bhilai
Start up Incubation center & IT Park to be formed for promoting start up culture & other IT services in the state.
“Plug & Play Model” for growth of IT industry & generation of IT employment in Nava Raipur
Focus on development of cities such as Raipur, Nava Raipur, Bilaspur, Durg, Bhilai, Ambikapur, Jagdalpur, Korba&Raigarh, etc. as “Growth Engine”
Industry Policy to be drafted focusing rich industry areas such as Korba, Janjgir, Raigarh, Urla, Siltara, etc.
Special focus and encouragement to Agricultural & Rural Development.
Key Schemes
Provision of Rs. 10,000 Crores under Krishak Unnati Yojana to benefit farmers for strengthening the small and medium farmers.
Provision of Rs. 8,369 Crores for Pradhan Mantri Awaas Yojana(Gramin)
Provision of Rs. 4,500 Crores for Jal Jeevan Mission
Provision of Rs. 3,952 Crores for development and maintenance of Higher Secondary School
Provision of Rs. 3,500 Crores for free electricity supply for 5 H.P agriculture pumps
Provision of Rs. 3,400 Crores forMukhya Mantri KhadyaanSahayata Yojana
Provision of Rs. 3,000 Crores for MahtariVandan Yojana to make women of the state self reliant.
Provision of Rs. 841 Crores for Pradhan Mantri Gram Sadak Yojana
Provision of Rs. 700 Crores for Amrut Mission Yojana
Provisioning of Rs. 300 crores as State share of Central Sponsored Scheme “Pradhan Mantri JanmanYojna” has been proposed.
An initiative for citizen of states to visit Shree Ram Lalla Darshan (Ayodha Dham) has been proposed with a budgetary amount of Rs. 35 Crores
Chhattisgarh Higher Education Mission Scheme to be implemented in the state for strengthening provisions of National Education Policy of India.
Chhattisgarh Institute of Technology (CIT)&Chhattisgarh Institute of Medical Science(CIMS) to be set up in every Lok Sabha constituency and Division respectively.
State Capital Region (SCR) to be formed around Raipur-Bhilai.
Formation of Chhattisgarh Center for Smart Governance
Formation of Chhattisgarh Economic Advisory Council
Eco-tourism &Naturo-therapy centers to be developed in Bastar&Sarguja area.
New Industry Policy to be prepared to include new industries in the policy
Climate Action Plan to be prepared for reduction in carbon emission in addition to encouragement to solar rooftop, eVehicles, adoption of Kusum Yojna, etc.
Promotion to the state’s sports facilities & infrastructure to be prioritized.
Tax Proposal
There is no tax proposal for the year 2024-25& no increase in existing tax rates.
