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State Budget based on estimated Rs 73,504 crore share from Centre
Jaipur: The Bhajan Lal government in Rajasthan will present the budget on July 10, marking the first time in 33 years that the State Budget will precede the Union Budget. Economic experts suggest that this sequencing will not impact the State Budget significantly. Finance Minister Nirmala Sitharaman had already disclosed the allocation details for states during the vote on account on February 1, detailing each state’s share of central taxes and duties. According to the Centre’s Budget estimate for 2024-25, Rajasthan is slated to receive the sixth-largest share of central taxes, amounting to Rs 73,504 crore, or 6.02% of the total taxes collected by the Centre.
Based on this allocation, the State Budget will scale various schemes, while expenditure items will be based on estimates from state revenue sources. State Budget to prioritise capital expenditure and employment initiatives, with decisions on schemes like Old Pension Scheme anticipated.
