Manipur Chief Minister N Biren Singh on Wednesday presented the budget estimate for 2024-25 with an expenditure proposal of Rs 35,531.21 crore in the state legislative assembly.
During the sixth session of the 12th Manipur Legislative Assembly which commenced Wednesday onwards, CM Biren, who is also in-charge of finance, presented budget estimates for the year 2024-2025 with gross expenditure of Rs 34,899 crore.
Presenting the budget estimate for 2024-25, CM Biren said that the economy of the state has been affected by unrest as it reduced revenue collection, increased expenditure on security and relief operations, inflation, difficulties in movement of goods and services, difficulties in implementation of projects and schemes etc. With the return of normalcy, continuous efforts are given to recover the economy, he added.
“For the year 2024-25, I am proposing a total gross expenditure of Rs 34,899 crore out of the consolidated fund of the state. Total revenue expenditure is estimated at Rs 20,628 crore. Capital outlay is estimated at Rs 8,616 crore”, CM Biren said.
The total receipts are estimated at Rs 34,815 crore while the revenue receipts are estimated at Rs 27,716 crore and capital receipts at Rs 7099 crore. The total estimates of state’s own tax and non-tax receipts are Rs 2470 crore and Rs 300 crore respectively, the CM added.
Biren also informed that fiscal deficit is estimated at Rs 1526 crore which is 3 per cent of GSDP. During 2024-2025, the total outstanding debt as a percentage of GSDP is projected at 35 per cent, he said.
The gross state domestic product for 2024-25 is estimated at Rs 49,937 crore, the CM said.
During the budget presentation, Biren also highlighted that the central government has been extending assistance to the state, both in terms of fiscal resources and manpower, for the past one year.
In order to make up for the revenue losses suffered by the state, the central government approved a special assistance for revenue loss of Rs 500 crore, he said.
The central government facilitated the release of Rs 565 crore as externally aided project funding during 2023-2024. This amount has been used to finance various infrastructure works taken up by the government. Above this, Biren also received support for security-related expenditures amounting to more than Rs 150 crore.
