Chandigarh, November 13
The Haryana State Industrial and Infrastructure Development Corporation is in the red, under Rs 7,000 crore of debt projected for the yearend. With liability likely to rise further while funding new acquisitions in Haryana, the challenge lies in servicing a Rs 800 crore debt per annum from the next financial year.

Add to that a manufacturing sector that is indicating a negative growth rate, certain “populist” decisions of the previous Congress regime that strained the treasury and the fiscal scenario of Haryana seems bleak.

Haryana’s Finance and Industries Minister Capt Abhimanyu says in this backdrop, he intends turning the tables on state’s poor fiscal health by reviewing and dropping all “unviable acquisitions” in the state and adding Rs 1,000 crore to the coffers by sale of industrial plots.

This, he says, has to proceed simultaneously as he works upon the onerous task of presenting a forward-looking Budget in four months and honour the government’s commitment on presenting a white paper on the state’s fiscal health during the next Vidhan Sabha session.

“The challenges are aplenty and there is very little time to put things back on the rails. To save the corporation, we need to sell the inventory, roll out sale of plots on priority in a transparent fashion. In the industrial sector, we need to reinvigorate industrial activity and fast-track the e-governance model,” he said.