TODAY -

CM tables ₹34,040 cr Budget Estimates
Source: Chronicle News Service

Imphal, February 28 2024: Leader of the House chief minister N Biren Singh presented the Budget Estimates for the year 2024-25 with total expenditure of Rs 34,040 crore out of the consolidated fund of the state.

While presenting the 'vote on account' amounting to Rs 34,040 crore on the first day of the 5th session of 12th Manipur Legislative Assembly on Wednesday, N Biren, also in charge of finance, claimed that his government was able to scrap liquor prohibition law with the help of civil society organisations to increase state's revenue and prevent unwanted health issues.

Budget Estimates for the year 2024-25 has several changes compared to that of 2023-24, which was revised to Rs 32,591 crore from the initial Budget Estimate of Rs 35,022 crore.

The total amount increased in Budget Estimates for the year 2024-25 from the 2023-24 figure (Rs 32,591 crore) is Rs 1,449 crore.

However, question arises as to whether Budget Estimates for the year 2024-25 amounting Rs 34,040 crore could be a full-fledged budget when compared to that of 2023-24 totalling Rs 35,022 crore, which could not be expended fully.

While presenting the Budget Estimates for the year 2024-25, chief minister N Biren told the House that fiscal deficit is estimated at Rs (minus) 2344 crore and this is (minus) 4.45 percent of the Gross State Domestic Product (GSDP) .

During the 2024-25 fiscal, the total outstanding debt as a percentage of GSDP is projected at 32 percent and the GSDP for 2024-25 pegged at Rs 52,711 crore.

On Revised Estimate of 2023-24, CM Biren said, in the Budget Estimates of 2023-24, the total expenditure was estimated at Rs 35,022 crore but revised to Rs 32,591 crore.

Revenue receipts and capital receipts were estimated at Rs 27547 crore and Rs 6583 crore respectively in Budget Estimates 2023-24 but this has now been revised to Rs 23,627 crore and Rs 8,000 crore in the revised estimate of 2023-24 respectively.

All overall receipts and expenditure figures are inclusive of ways and means advances and repayments.

Taking into account all receipts and expenditures, the current year is expected to have a budgetary deficit of Rs (minus) 962 crore in RE 2023-24 as against the deficit of Rs (minus) 890 crore in BE 2023-24 .

The fiscal deficit for 2023-24 (RE) is projected at Rs (minus) 2,235 crore, which is (minus) 4.91 percent of GSDP, Biren said.

Highlighting various achievements and initiatives taken up by his government, N Biren said this year has been one of the most challenging period the state has faced.

However, government remains committed to safeguarding territorial integrity of Manipur, protection of the lives of all its citizens, action against anti-social and anti-national elements and ensuring the 'rule of law' .

The government will ensure that all necessary support will be given to those who have suffered in the unfortunate events of the past few months, he asserted.

Since the outbreak of unrest in the state, the Central government has approved an amount of Rs 400'crore for immediate relief to the state in addition to many other forms of support; The immediate relief support includes daily rations, management of relief camps, construction of prefabricated structures, cash transfers for daily needs to the camp residents, nutrition and personal hygiene support, etc.

The state government is in constant communication with the Central government for additional support, he said.

According to CM Biren, his government supported livelihood of those affected by taking up various livelihood generation activities, provision of skill training, support with tool kits, etc., with focus on those in relief camps.

In order to mitigate the impact of the unrest on students' education, the state government had taken up many steps.

In spite of various challenges faced in recent months, both in terms of resources and implementation of projects and schemes, the government has been working tirelessly to live up to the expectation of the people, the CM mentioried while tabling the Budget Estimates of 2024-25 .


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