Although there has been only a slight increase of 0.2 percentage points from the previous fiscal year, the numbers could have been worse given the devastation caused by the recent monsoon.
The debt load, which is alarming at an astounding Rs 87,788 crore, is the cause for concern, and it is a responsibility that cannot be avoided by succeeding governments. Populist policies only result in higher borrowing, with the first casualty being fiscal restraint.
Source: Times of India
Sukhu said in his budget statement that his government has complied with demands to reinstate the previous pension plan and provide women with a Rs. 1,500 monthly assistance payment.The Chief Minister has been emphasising the need for “vyavastha parivartan,” or systemic transformation, in order to improve the state’s financial situation quickly.
We would be closely observing how that is accomplished while carrying out the many commitments outlined in the manifesto. For every rupee that the government spends in 2024–2025, salaries account for Rs. 25, pensions for Rs. 17, interest payments for Rs. 11, loan repayments for Rs. 9, and grants to autonomous institutions for Rs. 10. With just Rs 28 remaining, it would be difficult to continue progress despite the financial hardship.
Source: The Tribune
It would challenge one’s determination to not rely on taking on more debt.Notable budgetary measures include efforts to turn Himachal into a green state, significant support for the education sector, and encouragement of the rural economy. In addition to strengthening horticulture, 36,000 individuals will receive training in natural farming. There has been a rise in the minimum support price for milk. Both the youth employment start-up program and the significant funding for programs targeted at women are quite positive.
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