Code of conduct keeps tab on Budget

CHANDIGARH: While presenting the annual Budget in the assembly on Monday, Punjab finance minister Manpreet Badal did not mention any new taxes, additional resource mobilisation (ARM) or concessions that normally feature. The poll code of conduct was very much in place.
"Expenditure is being sought on schemes which are continuing from previous year and hence, already in public domain.I have taken care not to include any new concessions for any section of society nor are rates of concessions and subsidies being enhanced from current rates." However, his junior and chief parliamentary secretary Raj Khurana said, "We failed to offer any concession as our hands were tied by the state election commission. We also failed to impose any taxes because we did not want to upset voters."
Ducking questions on whether his government would levy new taxes or commit more doles after the code of conduct was lifted after panchayat polls, Badal said, "Huge subsidies amounting to around Rs 4,000 crore will continue for the next year, which include free power farm sector and atta-dal scheme for the poor. Adequate provision has been made in the Budget for these." Badal used the platform to reiterate plans for the next fiscal that was approved on February 19.
Finance minister Manpreet Badal said, "The state is on the right track. It has improved on all parameters achieved by financial prudence, cutting down expenditure, increase in share in Central taxes and increase in VAT (value added tax) collections substantially."
Seemingly wanting a pat on his back for working under stringent conditions, especially as he inherited a bad economy, Badal pointed out, "Revenue deficit was Rs 1748.69 crore at the end of 2006-07, despite the state receiving a non-revenue grant of Rs 923 crore in 2006-07 under the recommendations of the 12th Finance Commission."
For 2008-09, Badal said the revenue deficit was estimated at Rs 1000.18 crore as against revised estimates of Rs 1280.57 crore for 2007-08. "The reduction in revenue deficit of Rs 450 crore over previous year is mainly on account of additional resource mobilisation, expected receipts from state taxes and non-tax revenue. The fiscal year is expected to open with a surplus of Rs 339.61 crore and close with a surplus of Rs 407.57 core. Thus transactions of year's account indicate a surplus of Rs 67.96 crore."