Live
- 540 touts held for duping passengers at IGI Airport
- Keen to bring Sports Bill in Budget Session: Mandaviya
- HC to hear plea against Kejriwal's bail in Jan
- SC grants bail to two in Waqf Board money laundering case
- Is ‘Deep State’ threat real or just a bogey?
- Sisodia not to report to police twice a week: SC
- No possibility of alliance with Cong for Delhi polls: Kejriwal
- Marriage an integral part of life: Top court enhances compensation to road accident victim
- 8,31L farmers get skill training in AP
- CM: Bypass to be constructed to decongest traffic in Kurukshetra
Vote-on-Account likely at Rs 48k cr
Vote-on-Account likely at Rs 48k cr, Vote-on-Account, State budget for the 2014-15. The Vote-on-Account to be presented on February 10 for the first quarter of the new financial year – April to June, 2014, is likely to be fixed at Rs 48,000 crore.
- It will be presented in Assembly tomorrow
- Budget to cover the period from April to June
- Rs 800 cr to be allocated for poll expenses
Hyderabad: The Vote-on-Account to be presented on February 10 for the first quarter of the new financial year – April to June, 2014, is likely to be fixed at Rs 48,000 crore.
The Vote-on-Account will be placed at 10.08 am on February 10 and there will be no session on February 11. Debate on the Vote-on-Account would be held for two days – February 12 and 13. The State government, it is reliably learnt, is going to allocate Rs 800 crore to meet the election expenditure. The budget for 2014-15 expected to go up by 20 per cent over the previous budget. It is expected that the State budget for the 2014-15 would be around Rs 1.92 lakh crore.
On the other hand, the salary bill has gone up to Rs 62,000 crore from Rs 54,000 crore with the consideration of interim relief payment in 2014-15 budget.
Interestingly, the tax revenues in 2013-14 are not as per the projected levels. There was a nine per cent drop in tax revenue compared to last year. The revenues in excise and sales tax including VAT also had shown a downward trend. An official in finance department said, “The present inflation rate is around 12 per cent and the government used to initiate special measures every time to rake in additional revenues to meet the impact of the inflationary trends”. But this time it looks to be a different scenario.
“At present, we fixed some bugs in the software which required the contractor to provide updated information about the work/project under execution. It would be easier to track the work progress before releasing the bills,” he said.
