Haryana CM Saini presents Rs 2.05 lakh crore budget with aim to make State 'future capable'
CHANDIGARH: Haryana Chief Minister Nayab Singh Saini presented the budget for the financial year 2025-26 envisaging an outlay of Rs 2.05 lakh crore to make the state 'future capable.'
A new department named 'Department of Future' will be created and a new authority 'Substance Abuse Narcotics Knowledge Awareness and Liberation Program' (SANKALP) will be set up to tackle the spread of drugs in the state.
Besides, the government will also establish the Haryana AI (Artificial Intelligence) Mission to establish Haryana AI to which the World Bank has assured to provide assistance of Rs 474 crore. The AI mission will also help creating hubs in Gurugram and Panchkula.
In his maiden budget address, the CM Saini who holds the finance portfolio said that the government had received 11,000 suggestions regarding budget expectations and out of the 217 manifesto promises, 19 have already been fulfilled.
He also informed that the establishment of the 'Department of Future' will focus on exploring future technologies and their potential benefits and their utilisation to make Haryana 'future capable'.
Saini said that the budget envisages an outlay of Rs 2,05,017.29 crore for 2025-26, up 13.70 per cent from revised estimates of 2024-25.
He said that in the last 10 years, the Haryana government laid great emphasis on e-governance.
Saini also proposed that the setting up of 'Substance Abuse and Narcotics Knowledge Awareness and Liberation Programme Authority' will save people from drug abuse. An amount of Rs 10 crore has been earmarked for the authority.
To promote startups, the Haryana government will also encourage private investors to create a 'fund of funds' of Rs 2,000 crore.
Also, Rs 5,000 crore has been proposed for Rs 2,100 monthly assistance to women under 'Lado Lakshmi Yojana' for the financial year 2025-26.
Saini also proposed to set up a Horticulture Research Centre in Palwal and flower market in Gurugram.
He highlighted education and health as two crucial sectors for the state's development.
In response to public demand, he also announced the establishment of model Sanskriti schools every 10 kilometres. He also proposed the launch of the Kalpana Chawla scholarship to support students.
He also announced an air cargo facility for horticulture produce at Hisar airport and to set-up new cow sanctuaries in every district of the state.
Under 'Mera Pani Meri Virasat Yojana', subsidy for giving up paddy cultivation is to be hiked from Rs 7,000 per acre to Rs 8,000 per acre he said.
He added that the Horticulture policy is to be brought in for farmer producer organisations (FPO) registered as cooperative societies.
The state will launch 'Mission 2026 Olympics Medals' with Rs 20 crore allocated for preparation.
Saini said that in 2014-15 the Gross Domestic Product (GDP) of the state was Rs 4,37,145 crore, while the projected GDP for 2024-25 is Rs 12,13,951 crore.
While the per capita Income of Haryana in 2014-15 was Rs 1,47,382, it is estimated to reach Rs 3,53,182 crore in 2024-25.
The state's GDP has grown at an average annual rate of 10.8 per cent, while the Per Capita Income has increased at an average annual rate of 9.1 per cent.
Saini said that as per the Fiscal Responsibility and Budget Management (FRBM) Act, no state government’s fiscal deficit should exceed 3 per cent of the GDP in any given year.
He highlighted that the reduction from 2.88 per cent in 2014-15 to 2.68 per cent in 2024-25 demonstrates efficient financial management.
Looking ahead of 2025-26, the government aims to further reduce the fiscal deficit, targeting a decrease to 2.67 per cent of the state's GDP.
He said that it is a universally accepted economic principle that the government should not borrow for revenue expenditure. However, he emphasised that borrowing for capital expenditure, within reasonable limits, is acceptable and should, in fact, be encouraged.
Saini's wife, Suman Saini, Haryana BJP in-charge Satish Punia, state party chief Mohan Lal Badoli and other senior leaders were present in the speaker’s gallery to hear Sain’s maiden budget address.