Haryana's per capita income to rise in 2010-11

Chandigarh, March 10 (IANS) Haryana will see a rise in per capita income in fiscal 2010-11 but will remain a revenue deficit state, Finance Minister Ajay Singh Yadav said Wednesday.

The per capita income is expected to grow by 13 percent to Rs.77,878 at current prices, he said while presenting the budget for 2010-11 in the assembly.

Haryana has the highest per capita income among states in India - second only to Goa.

Yadav said the revenue deficit for the state had been pegged at nearly Rs 3,942 crore.

Haryana became revenue deficit in 2008-09. Before that, from 2005-06, the state was revenue surplus.

"The slowdown in economy and pay and pension revision have brought the state into the revenue deficit stage. The revenue deficit has been projected at Rs. 3941.81 crore for 2010-11," Yadav said.

In the budget estimates 2010-11, total receipts are projected at Rs.30,085.98 crore, of which revenue receipts are Rs. 24,540.83 crore while capital receipts are Rs.5,545.15 crore.

The total expenditure (excluding repayments) is projected at Rs.33,600.84 crore.
 
"The fiscal deficit is estimated to be 3.59 per cent of GSDP (Gross State Domestic Product) in 2010-11 which is within the prescribed limit of 4 per cent," he added.

The minister said growth in GSDP at current prices is expected to be 18.4 per cent. The contribution of primary sectors in GSDP has become 19.8 percent whereas secondary and tertiary sectors contribute 28.8 per cent and 51.4 per cent respectively.

"The increasing share of secondary and tertiary sectors are a clear indication of the growing maturity of the state's economy," Yadav said.