However, the state government said it would be difficult to bring the state's fiscal situation on track "within one or two years".
While replying on the general discussion on the budget estimates, Haryana FM also accused the previous government of giving "undue favour to certain individuals" at the cost of state's fiscal health.
Citing a case of "unrecovered" revenue of Rs 15,000 crore of Haryana Urban Development Authority (HUDA), the minister said the previous government "failed" to act in recovering the revenue which could have been used for plan or capital expenditure.
He said Rs 11,500 crore should have been credited into HUDA account which had been lying with private builders and a payment of Rs 3,500 crore was paid as income tax which could have been prevented by maintaining accounting practices.
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On this, former Haryana Chief Minister Bhupinder Singh Hooda said, "...If you have courage, then go and recover it."
Asserting that Haryana's economy offers "immense potential" in generating revenue, Narnaund MLA said the state government will make use of information technology and computers for raising the revenue by bringing transparency and removing corrupt practices.
Several schemes worth Rs 2,025 crore were floated without making provision in the state budget by previous government in 2013-14 in the wake of ensuing elections, he said.
He said expenditure to the tune of Rs 4,500 crore for 2013-14 was deferred to year 2014-15 for payment.
Referring to the Opposition charge of the revenue deficit going up and the fiscal deficit not being contained, Capt Abhimanyu blamed the previous government for the same.
On the issue of FRBM Act for revenue and fiscal deficit, he said that State government would ensure minimizing the revenue deficit and borrowing, if any, would be within the prescribed limits.
The debt whatsoever taken would be utilised for planned expenditure and capital expenditure, he said.
However, he said, "We could not rectify (the fiscal situation) in 1 or 2 years but whatever will do that will be in the interest of state.