The budget recommended a total expenditure of Rs 34,040 crore from the consolidated state fund. The overall revenue expenditure is predicted at Rs 20,246 crore, while the capital expenditures are estimated at Rs 8,155 crore.
Manipur Chief Minister N Biren Singh presented the 2024-25 budget to the state legislative Assembly on Wednesday, proposing an expenditure of Rs 34,040 crore.
Singh, who also holds the finance position, stated that the administration recommended a vote-on-account to better coordinate its efforts with the national government when the complete Union Budget is passed later this year.
The budget proposed a total expenditure of Rs 34,040 crore from the consolidated state fund. The total revenue expenditure is estimated at Rs 20,246 crore and the capital outlay is estimated at Rs 8,155 crore, he said.
The Chief Minister also said, “the fiscal deficit is estimated at Rs 2,344 crore, which would be 4.45 percent of the Gross State Domestic Product (GSDP). During 2024-25, the total outstanding debt as a percentage of GSDP is projected at 32 percent. The GSDP for 2024-25 is estimated at Rs 52,711 crore.”
Talking about the unrest in Manipur, the Chief Minister said, “The financial year of 2023-24 has been a difficult year for the state. The ongoing unrest in the state has taken a heavy toll on the state’s economy. Given the trend of own tax and non-tax collection so far, the state may lose fiscal resources to the tune of Rs 800 crore during the current financial year.”
He stated that the overall spending for Budget 2023-24 was anticipated to be Rs 35,022 crore. The overall RE 2023-24 expenditure has been revised to Rs 32,591 crores.
Revenue receipts and capital receipts were estimated at Rs 27,547 crore and Rs 6,583 crore, respectively, in Budget 2023-24, but have since been amended to Rs 23,627 crore and Rs 8,000 crore in RE 2023-24, according to the Chief Minister.
“This year has been one of the most challenging years that the state has faced,” the governor stated. “However, the government remains committed to safeguarding the 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’,” he said.
Singh stated that the government will provide all required assistance to individuals who have been affected by the terrible events of the past several months.
He stated that since the onset of turmoil in the state, the central government has given Rs 400 crore in emergency relief to the state, in addition to various forms of assistance. He stated that urgent relief help includes daily rations, supervision of relief camps, construction of prefabricated structures, financial transfers for detainees’ daily requirements, nutrition, and personal hygiene support, among other things.
He also submitted the 6th Report of the Business Advisory Committee and the Demands for Supplementary Grants for the year 2023-2024, totaling Rs 3,546 crore, encompassing 26 Demands and two Appropriations.
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