Imphal: Manipur Chief Minister N Biren Singh presented an Rs 891 crore budget deficit for the financial year 2023-24 in the 3rd session of the 12th Manipur Legislative Assembly. Last year the deficit budget figured at Rs 1230 crore.
Tabling the Budget Estimates for FY 2023-24 amounting to Rs 35,022 crore, the CM who also holds a finance portfolio on Tuesday said that of the Budget Estimates-2023-24, Rs 29,588 crore is voted and Rs 5,729 crore is charged. The budget is Rs 679.49 crore less than the Revised Estimate (RE) for the year 2022-23 but Rs 69.19 crore more than the Budget Estimates for 2022-23, the CM stated.
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Presenting the budget estimates in the House, CM Biren, proposed to spend Rs 35,022 crore from the state’s consolidated fund during the year 2023-24 and estimated revenue expenditure at Rs 20,292 crore and capital outlay estimated at Rs 10,013 crore.
The fiscal deficit estimated at Rs 2760 crore is also 6.1 per cent of the GSDP and total outstanding debt as a percentage of GSDP during 2023-24 is projected at 39.93 per cent, the CM said. The Gross State Domestic Product (GSDP) for 2023-24 is estimated at Rs 45,145 crore, he asserted.
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Informing the House about sectors to which the government gives priority, the chief minister said that the government will be launching a ‘higher education mission’ to improve the infrastructure of government colleges, tourism, and sports among others.