Breaking News:

Power, Education, Health, RDD get major allocations for next FY

GST to contribute 63 pc of tax revenue

Excelsior Correspondent

JAMMU, Jan 12: The Housing and Rural Development Department have seen massive increase in the budgetary allocations of various Departments, released by the Finance Department today even as the Power Development Department remained at top of the budgetary allocations as it would be spending Rs 6200 crore on purchase of power alone.
An official document released today said the budgetary allocation of Housing Department has been increased by 39.9 per cent and that of Rural Development Department by 15 per cent.
However, it said, the Power Development Department remained almost at the top with Rs 13,053 crores worth allocations for 2018-19 as compared to Rs 12,921 for current financial years of 2017-18 and just Rs 7436 crore in 2016-17. The allocations for next financial year to the Power Development Department were 1 per cent more than the current fiscal.
The Power Development Department will be spending Rs 6200 crore on purchasing power from its allocation.
Allocations to the Housing Department have seen massive increase of 39.9 per cent in the budgetary allocation, pegged at Rs 2201 crore as against Rs 1572 crore of 2017-18 and just Rs 690 crore of 2016-17. Of this amount, the Rs 298 crores of Finance Commission grants is budgeted to be spent on Local Bodies while Rs 1054 crore will be spent on outlay for drainage.
Rs 3121 crores have been allocated to Rural Development Department for 2018-19 as against Rs 2714 crore of 2017-18 and Rs 331 crore of 2016-17, an increase of 15 per cent. Of this, the Rural Development Department will spend Rs 499 crore on MGNREGA. Rs 779 crore of Finance Commission Grants have been allocated towards capital outlay under Panchayati Raj.
The Health and Medical Education Department has been allocated Rs 3529 crore in the budget as against Rs 3368 crores of 2017-18 and Rs 1898 crores of 2016-17. The Health and Medical Education Department will be spending Rs 503 crores on the National Health Mission. This is, however, 17 per cent less than the revised estimates of 2017-18. 20.8 per cent of this expenditure is budgeted on capital outlay.
The increase in budgetary allocations of Health and Medical Education Department comes out at 4.8 per cent.
The Education Department has been allocated Rs 7735 crores for upcoming financial year of 2018-19 as against Rs 7488 crore of current fiscal and Rs 4097 crore of 2016-17. The allocations have seen an increase of 3.3 per cent.
The Education Department has been allocated Rs 2411 crores under Sarv Shiksha Abhiyan, which is 11 per cent higher than the revised estimates for the scheme for 2017-18.
The Home Department will get Rs 5954 crore during 2018-19 as against Rs 5634 crore for 2017-18 and Rs 4299 crore for 2016-17, an increase of 5.7 per cent for next year over current financial year.
The Home Department has been allocated Rs 100 crore for capital spending under Modernization of Police Forces.
“The Goods and Services Tax (GST) is the largest component (63 per cent) of the tax revenue of the State. It is being levied on the sale of goods and services and includes tax collection in the State and transfers from Integrated GST,” sources said, They added that the Integrated GST is levied on inter-State sale of Goods and Services. The State is expected to generate Rs 7061 crores in 2018-19 under GST.
Further, the Government is expected to generate Rs 1415 crores through Sales Tax and Rs 1000 crores through Goods and Passenger Tax. In addition, revenue will be generated through the levy of duty on electricity, State Excise Duties, Stamp Duties on Real Estate transactions, taxes on vehicles etc.

related-video

Download Daily Excelsior Apps Now:

google-play-store-badgeappstore_button

Share With
This entry was posted in jammu news, State. Bookmark the permalink.