Decoding Uttarakhand Budget 2024-25
By OUR STAFF REPORTER
Dehradun, 8 Mar: Experts and senior economists gathered at Doon University to critically analyse various provisions of the Uttarakhand state budget 2024-25, dissected complex intricacies and threw light on the potential impact of the budget on various sectors while participating in a thought-provoking panel discussion organised by the University’s School of Social Sciences.
It was titled, “Decoding Uttarakhand State Budget 2024-25”.
The panel discussion brought together a distinguished group of experts, featuring Manmohan Mainali, Budget Officer of the Government of Uttarakhand; Prof VA Bourai, former Principal of SGRR College; Prof HC Purohit, Dean of the School of Management; and Dr KR Nautiyal, former ADG, Coast Guard. The event was moderated by Prof RP Mamgain, Dean of the School of Social Sciences.
The session commenced with a warm welcome by Prof Mamgain. The audience was then treated to a comprehensive presentation of the budget highlights by Peeyush Sharma, a PhD Scholar, Department of Economics. He highlighted key aspects of the budget, focusing particularly on capital expenditure and underutilisation of budgetary allocations in various departments.
Prof RP Mamgain emphasised key budget highlights, including Uttarakhand’s ranking and advancements in various schemes, notably the One District Two Product initiative. Significance was given to the Pradhan Mantri Awas Yojana in which Uttarakhand has bagged 1st position, additional aid for the food processing micro enterprises in hilly districts, Gaura Nanda scheme, and Chief Minister’s research promotion grants. Gender budgeting received attention with a 4% allocation. The significance of agriculture and allied activities was underscored by him, alongside the importance of capital expenditure. The surplus on revenue account is yet another distinct feature of the budget, showing dedicated efforts of state government towards revenue mobilisation.
Each panellist contributed unique perspectives during the discussion.
Manmohan Mainali, the Budget Officer of the Government of Uttarakhand, provided a first-hand account of the fiscal priorities and strategies behind the budgetary allocations. He explained the government’s priorities, which include sustainable growth, financial sector, infrastructure & investment, better implementation of government schemes, MSME development and quality improvement in health and education sectors. According to Mainali, reflection on previous schemes and demands of the people and economy play an important role in planning the budget. He also talked about wage and means advance and its role in fulfilling the gap between receipts and payment of the government. The maximum limit of WMAs allocated by the RBI for Uttarakhand is Rs 1100 crores. He stressed the importance of understanding variables such as the FRBM Act, net borrowing, and wage and means advance for a clearer comprehension of the budget document and argued for interpretation of the budget holistically along with CAG statistics, and GDP flows in capturing its overall impact on the economy.
Prof VA Bourai shed light on the potential impact on the education sector. Prof Bourai questioned it from the economist’s perspective. He emphasized the need for betterment of the quality of education while highlighting the poor performance of higher education institutions and their central rankings on parameters such as NAAC.
Prof HC Purohit, Dean of the School of Management, explored how the budget may influence various industries and economic indicators in the state. He analysed various budget figures allocated to various schemes for the development of the poor, youth, women power, food grains and infrastructure. Prof Purohit said that the budget is more focused on human development because the maximum provision of more than Rs 15000 crore has been made for education and health. In the budget, special emphasis has been laid on climate change, construction of electronic vehicle charging stations, ecology, industrial development, skill development and tourism development, which will prove important from the point of view of strengthening the economy as well as the ecosystem and employment generation.
Dr KR Nautiyal, former ADG, Coast Guard, offered a perspective on the potential implications for public services and governance. “Money spent is not growth, it is how human development occurs due to that spending. Along with good budget planning, the intent of the budget planners should also be realised, there should be proper planning and accountability mechanism,” he added.
The event drew an engaged audience consisting of students, scholars, and faculty members from diverse backgrounds. The open floor allowed attendees to actively participate in the discussion.
As the session concluded, Professor Harsh Dobhal summarised the key takeaways from the panel discussion and expressed gratitude to the panelists, the moderator, and the attendees.
The participants in the discussion included, among others, Dr MS Mandarwal, Registrar, Doon University, Narendra Lal, Deputy Registrar, Sikha Ahmad, Dr Rahul Saxena, Luv Mohan Sharma, Research Scholars and students of Doon University.
