Chandigarh buzzed with anticipation as Haryana Chief Minister Nayab Singh Saini presented the state’s ambitious ₹2.23 lakh crore budget for the financial year 2026-27 on Monday. With a sharp focus on bolstering the rural economy, this budget marks a significant push towards empowering farmers and strengthening agricultural infrastructure.
In a landmark announcement, CM Saini revealed plans to establish ‘Haryana Agri Discom’, a dedicated third power distribution company tailored exclusively for the farming community. This new entity will manage 5,084 agricultural feeders, ensuring uninterrupted electricity supply to 7.12 lakh consumers. Tube well connections will be prioritized, addressing a long-standing demand of farmers across the state.
The existing power distribution network comprises Uttar Haryana Bijli Vitran Nigam (UHBVN) and Dakshin Haryana Bijli Vitran Nigam (DHBVN). The introduction of Agri Discom represents a strategic move to segregate agricultural power needs, promising enhanced reliability and efficiency.
Industrial growth received a major boost with the proposal of a ₹500 crore ‘Saksham’ special fund. Aimed at selected urban centers, this initiative will upgrade infrastructure, foster industrial activities, and stimulate local economies. CM Saini, who also holds the finance portfolio, emphasized the need for robust capital investments to propel infrastructure development.
Presenting his second budget, the Chief Minister projected a fiscal deficit of ₹40,293.17 crore, or 2.65% of GSDP. Revenue deficit stands at 0.87% of GSDP, while effective revenue deficit is estimated at 0.41%. Capital expenditure is slated at ₹28,205 crore (12.6% of total budget), with effective capital outlay reaching ₹35,216 crore (15.7% of budget) – a notable increase from last year’s ₹27,650 crore.
Donning a Sikh turban during his budget speech, CM Saini highlighted Haryana’s pivotal role in India’s economic ascent. He set an audacious target of achieving a $1 trillion economy by 2047. The state successfully utilized 98% of its previous year’s budget, a historic milestone.
Haryana’s economic indicators paint a promising picture. Per capita income has surged from ₹1,47,382 in 2014-15 to ₹3,24,958 in 2023-24, reaching ₹3,58,171 in 2024-25 against the national average of ₹2,19,575. Projections indicate it will touch ₹3,95,618 in 2025-26. The Chief Minister attributed this growth to prudent fiscal management, contrasting it with the previous government’s 44% fiscal deficit escalation.
This budget underscores Haryana’s commitment to sustainable growth, rural prosperity, and industrial advancement, positioning the state as a frontrunner in India’s development journey.