No new taxes or sops in Modi govts interim budget

Written by fe Bureau | Ahmedabad | Updated: Feb 22 2014, 09:43am hrs
The Gujarat government on Friday tabled an interim budget of Rs 40,000 crore for FY15 without introducing any new taxes or incentives.

The budget speech delivered by FM Nitin Patel highlighted achievements of the last 13 years of the BJP rule under Narendra Modi. He did not propose any new tax or give relief from taxes on any front.

"The budget does not include new items or services. The vote-on-account has provisions for expenditure of recurrent nature and existing plan schemes," Patel said, adding that all the new schemes will be included in the full budget that is to be presented after the elections.

The GSDP (gross state domestic product) of the state has increased to Rs 6,70,016 crore in FY13 with PSUs contributing to 13.09% to the GSDP. Gujarat's GSDP contribution to India's GDP stood at 7.32% for FY3.

The GSDP at the 2004-05 prices of Gujarat increased annually at the rate of 10.17%, which is highest among the large states in the country.

Modi has faced flak from opponents regarding poor performance in the social sector by his government. The Gujarat government placed the corrected figures for the FY 2012-13, where earlier it had said that the budget was surplus, but accepted that it was in deficit. "It was expected in the revised estimates that due to the transactions during the year there will be surplus Rs 281.28 crore, but the accounts for the 2012-13 show a deficit of Rs 104.09 crore," it said.