Haryana Budget 2026-27: Major Tax Waivers and Industrial Boost Announced

Haryana Chief Minister Nayab Singh Saini announced extensive fiscal measures, including a 100% waiver on outstanding property tax interest and free water supply for metered homes up to 500 square yards. Plans include infrastructure development, waste-to-energy plants, and industrial growth initiatives, with significant investments in urban and industrial projects.

In a landmark budget announcement for 2026-27, Haryana Chief Minister Nayab Singh Saini has unveiled key fiscal reforms aimed at alleviating financial burdens and boosting industrial growth. Property tax defaulters in urban locales will benefit from a 100% waiver on outstanding interest up to March 31, 2025.

Saini detailed significant water charge relaxations, offering free supply up to 10 kiloliters per month for residential properties under 500 square yards, impacting about 23 lakh households. Additionally, a major urban greening initiative and construction of five waste-to-energy plants are set to transform urban infrastructure.

To drive industrial development, the establishment of the 'Saksham' fund with Rs 500 crore for infrastructure projects was announced. Proposals for simplified investment processes and the creation of the Indian Institute of Handloom Technology in Panipat underscore a strong focus on robust economic expansion.

(With inputs from agencies.)