After coming to power in 2014, we released a white paper and found:
1. Tax to GDP ratio was declining
2. Capital expenditure had steadily fallen to just 7% of budget!!
3. Wasteful subsidies & PSUs losses were mounting
4. Industrial growth was slipping
5. Budget forecasts were inaccurate
6. Not enough use made of IT in record keeping and governance
—✽Course correction✽—
1. Our revenue has grown and we doubled capital expenditure to Rs 14,000cr
2. Subsidies were linked with Aadhaar (2L fake pensions; 5L fake students)
3. PSU losses have fallen from Rs 3800cr to just Rs 800cr
4. We improved our EoDB ranking to 5th from 14th
5. Fiscal policy institute is being established (to do economic modeling)
6. Asset management registry will identify illegally held, or improperly managed govt property:
▬ We are compiling information incl. condition, value & use profile
▬ We are deciding whether to sell, leverage, lease or redevelop assets
▬ A renovation fund was created.
Power Sector
Professional management of discoms helps govt and customers. More will be done, but future is bright. Efforts are on to improve last-mile connectivity like replacing and upgrading transformers. Under Jagmag Haryana scheme, villages get 24x7 power. 10% villages are on board. There is a sense of community responsibility that bodes well. We are saving Rs 3800 cr in interest costs, AT&C losses are down by 4.5% and tariffs by Rs1/unit!!
Beyond mega cities of NCR
We would like to see development spread beyond NCR— to reduce regional disparities and improve sentiments across Haryana. Much of Haryana's income is locked in big NCR cities like Gurugram and Faridabad. Unfortunately their potential and effects beyond are limited—for example, incomes fall by as much as x8 in areas bordering them. We have an enterprise promotion policy that provides incentives to set up industry in backward areas. As far as developing Hisar and Rohtak into metropolis, this depends on intrinsic factors for the city. These cities already have good road links. Our aim is to establish an international airport at Hisar to attract growth in the Delhi-Hisar belt.
Agriculture
We would like to make farming more profitable and reduce the 50% of total population employed in agriculture. We have ensured fast compensation for natural calamities. We have reduced farming loan (KCC) interest from 4% to zero!! To consolidate farms and improve profitability, we have enacted land leasing and contract farming. We now have robust title records which we have put online. Further we are guaranteeing title deeds—not merely recording title. This will help banks to lend more freely.
Global summit, MOU & investment
We organised Haryana's 1st Global summit. Commitments of Rs 700kcr were signed and Rs 140kcr has come. A sizeable amount will not be realized and part will be phased in.
Tourism
Though tourism is getting its fair share, I agree there is great potential. We are seized on the importance of Rakhisgarhi which is the oldest human settlement of the Indus-Saraswati civilisation. This will get a museum and further exploration of mounds will be done. We are developing tourism circuits and are looking for opportunities at historic cities of Kurukshetra and Panipat.
Human capital
We register every birth with an Aadhaar card. Child health is provided and health is monitored—for which we are establishing a State Resident Database. There are education and skill development programs at school & colleges, and these are also monitored. We hope to do much more in the future.
State Of Haryana: An Exclusive Interview With Finance Minister Captain Abhimanyu
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