Shimla (Himachal Pradesh) [India], March 27 (HBTV): The Himachal Pradesh Legislative Assembly on Wednesday passed the state budget for the financial year 2025-26 by voice vote. Following the passage of the budget, Chief Minister Sukhvinder Singh Sukhu addressed the media, emphasizing the government's commitment to strengthening the rural economy and supporting farmers, small shopkeepers, and youth.

'This is our government's third budget, and it is aimed at strengthening the rural economy. Our focus is on ensuring that money directly reaches the hands of farmers and horticulturists. A significant portion of Himachal Pradesh's resources has been allocated to rural development,' Sukhu said.

He said that the government has announced interest subsidies for small shopkeepers, vegetable vendors, and street vendors with incomes below INR 3 lakh.

'Those who have taken loans up to INR 3 lakh will have their interest burden reduced by the government to improve their financial stability,' he said.

The budget also includes provisions for widows and their children's education.

'The Himachal Pradesh government will bear the entire educational expenses of children of widowed mothers. This budget ensures support for all sections of society,' he said.

Addressing government employees, the Chief Minister assured timely payment of Dearness Allowance (DA).

'DA payments will be released by May 15 as we are currently working to stabilize our treasury,' he said.

He said that additionally, arrears for employees aged 70 and 75 years will be settled this year, with phased payments for others.

To promote clean energy, the budget introduces subsidies for young entrepreneurs interested in solar power projects.

'Those installing solar power projects in tribal areas will receive a 5 percent subsidy. For 1 MW solar projects costing INR 2 crore, the government will cover 5 percent of the interest if the loan has a 9 percent interest rate,' he said.

The budget also aims to modernize public transport with 1,000 new buses and incentives for switching to electric vehicles:

• 40 percent subsidy on electric buses.

• 30 percent subsidy on diesel buses.

• 40 percent subsidy for taxi drivers converting their vehicles to electric taxis.

Sukhu highlighted the budget's environmental benefits, saying, 'This budget is crucial from an environmental perspective as well. We have included several measures to promote sustainability.'

The Chief Minister also raised concerns over hydropower projects operating in Himachal Pradesh without increasing their royalty payments. Certain projects have completed 40 years without any increase in royalties.

'Himachal's water resources are a treasure. While big companies have grown into INR 67,000 crore businesses using our resources, the state must get its rightful share,' he said.

He announced plans to discuss this matter with the Union Power Minister and urged opposition leaders to join hands in demanding increased royalties for the state.

The Himachal Pradesh Appropriation Bill, 2025, presented in the Assembly, authorizes a total expenditure of INR 62,387.61 crore for the financial year 2025-26.

The budget, introduced under Article 204 of the Constitution of India, outlines funds for various sectors, ensuring the economic uplift of farmers, small businesses, and government employees.

CM Sukhu extended congratulations to the people of the state.

'With the passage of this budget, I extend my best wishes to all citizens of Himachal Pradesh. We are committed to securing the state's economic future and fighting for our rightful share in national resources,' he said. (ANI)