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Rajasthan presents a Rs 13.34 bn deficit Budget

Blaming the Centre for the states' financial woes, Rajasthan Finance Minister Pradhyuman Singh on Friday presented a Rs 13.34 billion deficit Budget for the year 2002-2003 in the State Assembly.

While raising additional resources of Rs 500 million mainly through entry tax on air conditioners, photocopies, computers, excavators, mobile cranes, hydrolic dumpers, dye and dye stuff, bituman, cement, besides petrol, high speed diesel, kerosene, furnace oil, light diesel oil and other petroleum products, the state finance minister announced the launch of 'online lottery' with two per cent sales tax on it.

Estimating a 10 per cent fall in tax revenue due to a recessionary trend, he said the state would also be getting around Rs 6.8 billion less from the Centre in 2002-2003.

He said that instead of reducing interest rate by 3-4 per cent on central loans to the states, the Union Government had affected only half a per cent cut. He alleged that all the major sources of revenue were with the Centre, and the state had been left with expenditures only.

Singh said the state's annual plan had been proposed at Rs 55.35 billion of which 29 per cent would be spent on social and community services.

The state had fixed its tenth five year Plan size at Rs 31.83 billion but the same was yet to be approved by the Planning Commission. About 77 per cent of the Plan would be dedicated to energy, road, transport and irrigation sectors.

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