Haryana Budget 2015-16: Metro Gets a Booster Shot

With the vision of ‘Sabka Sath, Sabka Vikas’, BJP-led Haryana government recently presented its budget for the financial year 2015-16. The total allocated budget is Rs 68,985.87 crore, including Rs 52,312.10 crore revenue and Rs 16,673.77 crore capital.

So, what’s in for the realty sector?

Well, if not lion’s share, infrastructure did get some get some boost. The state Finance Minister allocated Rs 17,331.08 crore with an outlay of Rs 5,793.65 crore to the economic structure sector. These will focus power, public health engineering, PWD, water resources, industries, transport and civil aviation. If we compare it with the last fiscal’s budget, it is nearly 8 per cent higher.

The decision that gave the residents a reason to cheer was the announcement of completion year for the metro works. For Faridabad metro link, April 2015 is the deadline, while for the Bahadurgarh link, the date has been set for April 2016. Thus soon, in next two months, commuting between Fardiabad to parts of Delhi will become a matter of just few minutes.

“Emphasising on the metro networks and stressing on the earliest completion of these projects, new budget opens up the doors for better and efficient connectivity. Infrastructure development has been allotted a descent amount which will allow a healthy development and aid in boosting infrastructure sector in the regions as well. As vital part of development strategy, noteworthy amount has been allocated in sectors like education, power, agriculture, sports,” opines Kushagr Ansal, Director, Ansal Housing, who looks quite content with the budget.

Though no new tax proposals or revisions in the existing tax rates were brought to the table, however, the budget has not been a very pleasing for the state. “Much more was expected from the fresh budget. But since priority has been given to capital expenditure and infrastructure development, it seems to be a balanced one,” says Pradeep Aggarwal, Chairman, Signature Global.