Manipur Chief Minister N Biren Singh on Tuesday presented in the assembly the budget for 2023-24 with an expenditure proposal of Rs 35,022 crore out of the consolidated fund of the state.
The budget proposals focus on education, health, sports and agriculture, said Singh who also holds the finance portfolio. “For the year 2023-24, I am proposing a total expenditure of Rs 35,022 crore out of the Consolidated Fund of the State. The total Revenue Expenditure is estimated at Rs 20,292 crore while the Capital outlay is estimated at Rs 10,013 crore,” the CM said.
In the Budget Estimate 2022-23, the total expenditure estimated was Rs 34,930 crore. The total receipts are estimated at Rs 34,131 crore - revenue receipts at Rs 27,547 crore and capital receipts at Rs 6,584 crore. Total estimates of the state’s own tax and non-tax receipts are Rs 3,200 crore and Rs 400 crore respectively. “The budget deficit is estimated at Rs 891 crore, which is a reduction from last year’s budget deficit of Rs 1,230 crore,” Singh said.
The fiscal deficit is estimated at Rs 2,760 crore which is 6.1 per cent of the GSDP. During 2023-24, the total outstanding debt as a percentage of GSDP is projected at 39.93 per cent. The Gross State Domestic Product (GSDP) for 2023-24 is estimated at Rs 45,145 crore. The administration proposed to launch the ‘College Fagathansi Mission’ to improve the infrastructure of government colleges.
“Under the mission, we are planning capital investment of at least Rs 60 crore in the next financial year. To meet requirements of revenue expenditure, we are providing Rs 10 crore in the Budget,” Singh said. The government will continue its support to the Start Up Ecosystem in the state and Rs 100 crore is being provided in this budget.
To promote the state’s indigenous games, work has started on an ‘Indigenous Sports Complex’ in Senapati district under the Scheme for Capital Investment with an allocation of Rs 7.2 crore this year. Stating that Manipur has a huge potential for the cultivation of millets, the budget has provided an allocation of Rs two crore for the promotion of millets in addition to funding provided under various Centrally Sponsored Schemes. The United Nations has declared 2023 as the ‘International Year of the Millet’.
