Efforts required for ensuring credible macro stability, improving power sector and transport sector and improving the quality of public expenditure in Haryana

15th Finance Commission visiting Haryana from 3rd to 5th May 2018, Interactive Session on Agriculture to be held on 3rd May

The Fifteenth Finance Commission of the Government of India is the state of Haryana from 3rd to 5th May 2018. The Commission led by the Chairman Shri N.K.Singh, Members – Dr. Anoop Singh, Dr. Ashok Lahiri, Dr. Ramesh Chand and Secretary Shri Arvind Mehta along with other officials will assess the state of the finances of Haryana and its socio-economic challenges. On the eve of this visit, Commission understood various aspects of it from Accountant General of Haryana in New Delhi. Commission will also hold an 'Interactive session on Agriculture' on 3rd May 2018 to explore various issues related and ways to tackle the issues related to stubble burning, ensuing pollution and to increase agriculture productivity.

The Haryana economy achieved robust growth rates of 10% and 12.14% respectively during 2015-16 and 2016-17. The Commission noted that Haryana has made significant progress in the implementation of IFMS, adoption of SDG Goals, efforts made towards eliminating Losses of Power Sector and implementation of Social Sector schemes. It is encouraging to note that the state government has been implementing schemes like One Stop Center Sakhi, Aapki Beti Hamari Beti,Haryana Kanya Kosh, Sukanya Smariddhi Account and Aanganwadi Adoption Programme – Hamari Phulwari announced apart from central schemes like Beti Bachao Beti Padhao and Pradhan Mantri Matru Vandana Yojana.

To sustain the growth momentum, there is a need to find innovative ways to go forward in dealing with the implementation of UDAY scheme, credible macro stability, improving power sector and transport sector and improving the quality of public expenditure particularly capital expenditure and social sector indicators and SDGs.

Haryana has been achieving an all round development taking full benefits of its proximity with NCR. Around 40 per cent of the total area of the National Capital Region (NCR) is that of Haryana State. The state's economy is largely dependent on tertiary sector which contributes around 45% of the states GSDP. Some key facts about the economy.

1. Third highest in PCI income across all states , the top two states being Goa and Sikkim
2. Haryana has one of the highest Own Revenue Receipts (ORR) as % of TRR in India.
3. This is one of the most dynamic economic regions of the country and Haryana alongwith some parts of UP, receives around 20% of the total of the total FDI inflows to the nation.

The Finance Commission needs to make an in-depth Study of the recent developments and future possibilities of economic growth and development of Haryana. This will be based on the various interactions and meetings that the Commission is scheduled to have in Haryana during its visit. Haryana is the first state in the NCR that will be visited by the Fifteenth Finance Commission. Finance Commission has to visit different States, understand their developmental requirements and their resource availability to firm up its conclusions, recommendations and Report.

The Commission will have meetings with Chief Minister, Ministers and other officials of the state. Detailed presentations will be made on the finances of the State Government. The Commission will also meet leaders of various political parties, Representatives of Trade and Industry. There will also be an interactive session with Urban Local Bodies and Panchayati Raj Institutions.

Fiscal assessment prompts focus on credible macro stability and sectoral reforms across power and transport. The Fifteenth Finance Commission will assess Haryana's finances and socio economic challenges, emphasising credible macro stability, improved quality of public expenditure-particularly capital spending-and targeted sectoral reforms in the power and transport sectors; the visit includes consultations with state leaders, political parties, industry, and local bodies to inform recommendations based on fiscal capacity and developmental requirements.