FM tables budget estimates 2018-19
Source: The Sangai Express / DIPR

Imphal, February 05 2018: On the second day of the ongoing 4th session of the 11th Manipur Legislative Assembly, Deputy Chief Minister (in-charge of Finance) Y Joykumar Singh presented the Budget Estimates, 2018-19 .

The Finance Minister said that the Budget Estimates for the year 2018-19 was prepared with a total receipt estimated at Rs 13,733.62 crore which includes revenue receipts of Rs 12,648.94 crore and capital receipts of Rs 1084.68 crore.

The total estimates of State's own tax and non-tax receipts assumed in the budget estimates are Rs 1047.58 crore and Rs 248.53 crore respectively.

Stating that the Government is not proposing any change in the existing tax rates, receipt from the State's share in Central Taxes and Duties is expected to increase by 15% over the revised estimate of 2017-18 and has been estimated at Rs 4908.76 crore.

The Minister proposed the expenditure estimates for the year 2018-19 with a total gross expenditure of Rs 13,731.04 crore out of the consolidated fund of the State, an increase of 3.68 % over revised estimates of 2017-18 which was Rs 13,243.67 crore.

Out of the total gross expenditure, an amount of Rs 1002.82 crore is charged expenditure and the remaining amount of Rs 12,728.22 crore is voted expenditure and the total revenue expenditure is estimated at Rs 11,123.82 crore.

The Finance Minister stated that capital outlay was estimated at Rs 2252.89 crore.

Y Joykumar also highlighted the likely fiscal position during the current year with an estimate of surplus revenue account.

Fiscal deficit was estimated at (-) Rs 612.41 crore.

That is 2.32 % of the GSDP and that is within the prescribed limit of 3.5% fixed as per the State Fiscal Responsibility and Budget Management Act.

The total outstanding debt is projected at 37.34% of the GSDP during 2018-19 against revised estimates of 38.25 %.

Pertaining to revised estimates of 2017-18, the Finance Minister said that the Government had placed the total gross expenditure at Rs 12,420.65 crore in the budget estimate.

This has been revised to Rs 13,243.67 crore showing an increase of Rs 832.02 crore.

The developmental outlay for 2017-18 budget estimates was Rs 4972.07 crore and it has now been placed at Rs 5388.82 crore in the revised estimates.

Revenue receipts and capital receipts were estimated at Rs 11,096.25 crore and Rs 1414.35 crore respectively in budget estimates 2017-18.This has been revised to Rs 12,025.33 crore and Rs 1031.57 crore respectively.

The Finance Minister also highlighted the Government's endeavour for all round development of the State in different sectors/departments.

Comment