The Haryana government on February 23 presented a Rs 1.83 lakh crore budget for the financial year 2023-24 and set aside Rs 5,893 crore for urban development (UD) and the housing sector.
In his Budget speech, Chief Minister Manohar Lal Khattar also announced the setting up of two data centre parks in the state, one each in Gurugram and Ambala.
He also said that apart from the benefits of Pradhan Mantri Awas Yojana, the state government will build 1 lakh houses in the year 2023-24.
Presenting the budget proposals for FY2023-24, the CM, who also holds the finance portfolio, proposed a scheme to settle the arrears of renewal fees in the Town and Country Planning department.
“The principal and interest of the renewal fee of Rs 3,600 crore is due to the town and country planning department of which Rs 2,000 crore is the interest. The scheme will provide a waiver of this outstanding interest,” Khattar said in the House.
Also Read: UP govt presents Rs 6.90 lakh crore budget for 2023-24; Rs 85 crore set aside for data centres
He said that if the licensee has taken a partial possession certificate, then he will have to pay only 10 percent of the principal amount of the outstanding renewal fee in lieu of interest, while the licensee of incomplete projects will have to pay only 25 percent of the renewal fee in lieu of interest.
The CM proposed a Rs 1,83,950 crore budget for the financial year 2023-24, which is an increase of 11.6 percent over the revised estimates of Rs 1,64,808 crore. He also said that there is no proposal for imposing any fresh tax in the budget.
The CM proposed to allocate Rs 5,893 crore for urban development and housing sectors in the budget, which is an increase of 11.1 percent over revised estimates for the current year.
Khattar said three more metro links will be started in 2023-24, including a metro link from Rejangla Chowk to Indira Gandhi International Airport in Delhi, the extension of a metro link from Southern Peripheral Road to Global City and Panchgaon via Manesar.
The Bahadurgarh Metro will be extended up to Asaudha to connect with Haryana Orbital Rail Network and Kundli-Manesar-Palwal (KMP) Expressway, he said.
The government has also allocated Rs 5,408 crore for the development of roads, highways and railways.
Industry reaction
Reacting to the budget, Pradeep Aggarwal, Founder and Chairman of Signature Global (India) Ltd said the infrastructure-related policies outlined in the budget are “encouraging and empowering”.
“The allocation of Rs 5,408 crore for roads, highways, and railways, along with the proposed construction of the Gurugram metro and three other metro links in the region, is a game-changer for Haryana’s real estate sector. These mega infrastructure projects will not only enhance connectivity but also create new opportunities for the state’s economic growth and development. The infrastructure developments will also open up new avenues, making the state an even more attractive destination for real estate investments,” Aggarwal said.
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