The Chief Minister of Haryana, Mr. Nayab Singh, presented the Budget for the state for the financial year 2025-26 on March 17, 2025.
Budget Highlights
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The Gross State Domestic Product (GSDP) of Haryana for 2025-26 (at current prices) is projected to be Rs 13,47,486 crore, amounting to growth of 11% over revised estimates of 2024-25.
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Expenditure (excluding debt repayment) in 2025-26 is estimated to be Rs 1,69,229 crore, an increase of 15% from the revised estimates of 2024-25. In addition, debt of Rs 70,789 crore will be repaid by the state.
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Receipts (excluding borrowings) for 2025-26 are estimated to be Rs 1,33,234 crore, an increase of 17% as compared to the revised estimate of 2024-25.
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Revenue deficit in 2025-26 is estimated to be 1.53% of GSDP (Rs 20,600 crore), as compared to a revenue deficit of 1.47% of GSDP (Rs 17,848 crore) at the revised estimate stage in 2024-25.
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Fiscal deficit for 2025-26 is targeted at 2.7% of GSDP (Rs 35,995 crore). In 2024-25, as per the revised estimates, fiscal deficit is expected to be 2.7% of GSDP, marginally lower than the budgeted 2.8% of GSDP.
Policy Highlights
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Cash transfer to women: The Lado Laxmi Yojana will be launched to provide financial assistance of Rs 2,100 per month to women. Rs 5,000 crore has been allocated to the scheme in 2025-26.
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Skill development: Mukhyamantri Yuva Kaushal Samman Yojana will be launched to provide 2,000 final year students with internship opportunities. They will receive an honorarium of Rs 10,000 per month.
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Haryana AI Mission: The Haryana AI Mission will be launched. One AI hub will be built in Gurugram and Panchkula, each. These hubs will train over 50,000 professionals from Haryana in latest technologies.
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Paddy cultivation: Under the Mera Pani, Meri Viraasat Yojana, subsidy for farmers giving up paddy cultivation will be increased from Rs 7,000 to Rs 8,000 per acre. Subsidy for direct sowing of paddy will be raised from Rs 4,000 to Rs 4,500 per acre.
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Upgradation of district hospitals: Each district hospital will be equipped with state-of-the-art equipment such as CT-scan, MRI, ultrasound, blood analyser, and digital x-ray machines. A 50-bed critical care block will be established in each district hospital and medical college.
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Natural farming: In 2025-26, one lakh acres of land will be covered by natural farming.
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Haryana’s Economy
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Figure 1: Growth in Haryana’s GSDP at constant prices (2011-12) Note: These numbers are as per constant prices (2011-12) which implies that the growth rate is adjusted for inflation. |
Budget Estimates for 2025-26
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Total expenditure (excluding debt repayment) in 2025-26 is targeted at Rs 1,69,229 crore. This is an increase of 15% from the revised estimate of 2024-25. This expenditure is proposed to be met through receipts (excluding borrowings) of Rs 1,33,234 crore and net borrowings of Rs 35,561 crore. Total receipts for 2025-26 (other than borrowings) are expected to register an increase of 17% over the revised estimate of 2024-25.
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The state estimates a revenue deficit of 1.53% of GSDP (Rs 20,600 crore) in 2025-26, as compared to a revenue deficit of 1.47% of GSDP at the revised estimate stage of 2024-25.
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Fiscal deficit for 2025-26 is targeted at 2.7% of GSDP (Rs 35,995 crore), similar to the revised estimates for 2024-25 (2.7% of GSDP).
Table 1: Budget 2025-26 - Key figures (in Rs crore)
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Items |
2023-24 Actuals |
2024-25 Budgeted |
2024-25 Revised |
% change from BE 24-25 to RE 24-25 |
2025-26 Budgeted |
% change from RE 24-25 to BE 25-26 |
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Total Expenditure |
1,92,366 |
2,19,877 |
2,10,314 |
-4% |
2,40,017 |
14% |
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(-) Repayment of debt |
59,194 |
64,044 |
63,744 |
-0.5% |
70,789 |
11% |
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Net Expenditure (E) |
1,33,172 |
1,55,832 |
1,46,569 |
-6% |
1,69,229 |
15% |
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Total Receipts |
1,90,452 |
2,19,361 |
2,10,163 |
-4% |
2,39,584 |
14% |
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(-) Borrowings |
88,721 |
97,163 |
96,150 |
-1% |
1,06,350 |
11% |
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of which central capex loans* |
1,702 |
1,093 |
1,680 |
54% |
2,000 |
19% |
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Net Receipts (R) |
1,01,731 |
1,22,198 |
1,14,013 |
-7% |
1,33,234 |
17% |
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Fiscal Deficit (E-R) |
31,441 |
33,635 |
32,556 |
-3% |
35,995 |
11% |
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as % of GSDP |
2.9% |
2.8% |
2.7% |
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2.7% |
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Revenue Deficit |
11,881 |
17,817 |
17,848 |
0.2% |
20,600 |
15% |
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as % of GSDP |
1.1% |
1.5% |
1.5% |
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1.5% |
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Primary Deficit |
9,836 |
8,493 |
7,863 |
-7% |
9,764 |
24% |
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as % of GSDP |
0.9% |
0.7% |
0.6% |
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0.7% |
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GSDP |
10,85,510 |
12,16,044 |
12,13,951 |
-0.2% |
13,47,486 |
11% |
Note: BE is Budget Estimates; RE is Revised Estimates. *Central government has been providing 50-year interest-free loans to state governments for capital expenditure since 2020-21. These loans are excluded from the calculation of the state's borrowing ceiling.
Sources: Annual Financial Statement, Haryana Budget Documents 2025-26; PRS.