Haryana Budget 2025-26 | 26 Mar 2025

Why in News? 

Haryana Chief Minister presented the state's budget for the financial year 2025-26, unveiling a comprehensive plan aimed at fostering sustainable growth and economic expansion.  

Key Points 

  • Total Budget Outlay: The budget proposes an expenditure of ₹2,05,017.29 crore for 2025-26, marking a 13.7% increase from the previous fiscal year's (2024-25) revised estimates. 
    Department of Future: A new "Department of Future" will be established to prepare Haryana for upcoming economic, technological, and environmental challenges.  
    • This department will serve as a strategic think tank, focusing on areas such as climate change preparedness, artificial intelligence (AI), automation, and economic resilience. 
  • Haryana AI Mission: The government plans to launch the Haryana AI Mission, with the World Bank assuring assistance of over ₹474 crore.  
    • Under this mission, hubs will be established in Gurugram and Panchkula to promote AI adoption and integration of emerging technologies within governance and industry. 
  • Lado Lakshmi Scheme: An allocation of ₹5,000 crore has been made for the Lado Lakshmi Scheme, which aims to provide ₹2,100 per month to women, reflecting the government's commitment to women's empowerment and financial support. 
  • Employment Generation: The budget emphasizes job creation, with a target of providing employment to 50 lakh youth under Mission Haryana-2047, demonstrating a long-term vision for workforce development. 
  • Substance Abuse Prevention: A new authority named SANKALP (Substance Abuse and Narcotics Knowledge Awareness and Liberation Program Authority) will be established with an initial fund of ₹10 crore.  
    • This body will coordinate efforts to combat drug addiction through awareness and rehabilitation initiatives. 
  • Fiscal Prudence: Strengthening Haryana’s Financial Health Over the past decade, Haryana has demonstrated remarkable fiscal discipline.  
    • The revenue deficit has reduced from 1.90% of GDP in 2014-15 to an estimated 1.47 % in 2024-25, and as a percentage of the total budget.  
    • it has declined from 13.4% to 9.9%.  
    • Similarly, the fiscal deficit has been steadily managed, reducing from 2.88% in 2014-15 to 2.68% in 2024-25.  
  • Support for Athletes: National and international athletes will receive free insurance coverage of up to ₹20 lakh, with the government covering the premium. 
    • Olympic medalists will be provided ₹10 lakh to start their own businesses and will be eligible for a ₹5 crore loan with a 2% subsidy to establish their own sports academies. 
  • Infrastructure Development: Significant investments are planned for infrastructure, including the development of multi-level parking facilities in several cities and a new metro line in Gurugram.  
    • Flight services from Hisar airport to destinations like Ayodhya, Jaipur, Chandigarh, Ahmedabad, and Jammu are also on the agenda. 
  • Strengthening Agriculture And Rural Economy: Haryana being an agrarian state, the budget prioritises agricultural growth.  
    • Initiatives such as the interest-free loan of up to Rs 1 lakh for women dairy farmers, a new horticulture policy, and an air cargo facility for horticultural produce at Hisar airport will significantly enhance the agricultural value chain. 
    • Additionally, cow sanctuaries are being set up in every district to promote animal welfare and sustainable livestock farming. 
  • Education Initiatives: Female students pursuing graduation or post-graduation in science and engineering will receive an annual scholarship of ₹1 lakh under the Kalpana Chawla Scholarship Scheme, promoting higher education among women in technical fields. 
  • Empowering Startups: The state government is actively encouraging private investors to create a Rs 2,000 crore ‘Fund of Funds.’  
    • This initiative supports entrepreneurs, fostering a startup culture and attracting investments to Haryana. 
  • Mission Haryana-2047:  A visionary initiative under this budget is ‘Mission Haryana-2047. It aims to elevate Haryana’s Gross State Domestic Product (GSDP) to USD 1 trillion.  
    • The state's GSDP has witnessed a remarkable increase from Rs 4,37,145 crore in 2014-15 to a projected Rs 12,13,951 crore in 2024-25, growing at an annual average rate of 10.8 per cent.  
    • Similarly, per capita income has surged from Rs 1,47,382 in 2014-15 to an estimated Rs 3,53,182 in 2024-25.