Finance Minister tables annual budget


By Our Staff Reporter
IMPHAL, Feb 20: Deputy Chief Minister and Finance Minister Y Joykumar today tabled the annual budget for 2019-20 in the State Assembly which reflects a gross fiscal deficit of Rs 3655.32 crore.
Tabling the annual budget, Joykumar exuded confidence that the budget will bring certain positive changes to the people of the State.
The estimated total revenue collection during 2019-20 is Rs 14636 crore including revenue receipt of Rs 13157 crore and capital expenditure of Rs 1478 crore, he said.
According to the budget estimate, the State’s own tax receipt would be Rs 1185 crore and non-tax receipt would be Rs 273 crore.
It is estimated that the State’s share from Central taxes and duties would be increased by 15 per cent in 2019-20 as compared to 2018-19.
The annual budget 2019-20 proposes a total expenditure of Rs 16117 crore from the State’s consolidated fund. The proposed total expenditure includes charged expenditure of Rs 1687 crore and Rs 14430 crore as voted expenditure.
It is estimated that the total revenue expenditure in 2019-20 would be Rs 12856 crore while capital expenditure would be Rs 3260 crore.
According to the budget estimate, there would be a surplus of Rs 377 crore in the forthcoming financial year while the total fiscal deficit would be Rs 1889 crore, the Finance Minister informed the House.
He said that the Government has been working to deliver clean and transparent governance to the people at their doorsteps through Go to Hills Mission and Go to Village Mission.
During the short period of less than two years, the Government has taken up several social infrastructure development programmes.
Under the Start-Up programme, incentives would be given to thousands of skilled and talented entrepreneurs, Joykumar said.
According to the Finance Minister, the State Government has been expecting a 6.87 rise in the State’s GSDP in 2018-19 as compared to 2017-18. The State’s GSDP would further rise by 10.81 per cent and the figure would touch Rs 28666 crore in 2019-20.
In addition to the State’s low resources, revenue expenditure has been growing continuously on account of payment of salaries and pensions. The amount spent by the State in paying interests has also been growing. As such, the State’s financial condition cannot be said to be healthy.
Nonetheless, Rs 20 crore has been set aside in the budget for the CMHT and another Rs 169 crore has been incorporated for completion of Dolaithabi Barrage and Thoubal Multipurpose Project.
Rs 614 crore for urban development and another Rs 20 crore for water shed management of Singda Dam, Thoubal River and Imphal River have also been reflected in the budget, Joykumar added.

Leave a Reply

Your email address will not be published.