CM N Biren proposes total expenditure of Rs 34,040 cr for 2024-25

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Photo: Manipur Legislative Assembly

Imphal: The 5th Session of the 12th Manipur Legislative Assembly began on Wednesday. The five-day session commenced with an address by Governor of Manipur Anusuiya Uikey. She welcomed the house members in Manipuri language.

In her address, the Governor spoke about the Manipur violence which erupted on May 3 last year and various measures taken and being taken to restore peace and rehabilitate violence-affected people. She shared the grief of families who had lost their near and dear ones in the violence.

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House leader and Chief Minister N. Biren presented the Sixth Report of the Business Advisory Committee 2024, Supplementary Demands for Grants, 2023-24 as well as the Budget Estimates, 2024-25 on the first day of the session. He reaffirmed the commitment of Manipur Government under his leadership to ensure all-round development of every section of society and every sector in the State.

Chief Minister N. Biren Singh presented the Demands for Supplementary Grants for the year 2023 – 2024 amounting to Rs. 3546 crores covering 26 Demands and 2 Appropriations.

The Chief Minister said that the total expenditure during RE 2023-24 has been revised to Rs. 32,591 crores. Revenue receipts and capital receipts were estimated at Rs. 27,547 crores and Rs. 6,583 crores respectively in Budget Estimates 2023-24. This has now been revised to Rs. 23,627 crores and Rs. 8,000 crores in RE 2023-24 respectively.

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All overall receipts and expenditure figures are inclusive of Ways and Means Advances and Repayments. Taking into account all receipts and expenditures, the current year is expected to have a budgetary deficit of Rs. (-) 962 crores in RE 2023-24 as against the deficit of Rs. (-) 890 crores in BE 2023-24. The fiscal deficit for 2023-24 (RE) is projected at Rs. (-) 2,235 crores, which is (-) 4.91% of GSDP.

On Budget Estimates for the year 2024-25, the Chief Minister said that the total receipts are estimated at Rs. 33,057 crores. The revenue receipts are estimated at Rs. 26,058 crores and capital receipts at Rs. 6,998 crores. Total estimates of the State’s own tax and non-tax receipts are Rs. 2,470 crores and Rs. 166 crores respectively. For the year 2024-25, the house leader proposed a total expenditure of Rs. 34,040 crores out of the Consolidated Fund of the State. Total Revenue Expenditure is estimated at Rs. 20,246 crores. Capital outlay is estimated at Rs. 8,155 crores.

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Fiscal deficit is estimated at Rs. (-) 2344 crores. This is (-) 4.45% of the GSDP. During 2024-25, the total outstanding debt as a percentage of GSDP is projected at 32%. The Gross State Domestic Product (GSDP) for 2024-25 is estimated at Rs. 52,711 crores.

Presenting the budget, House leader N. Biren said that the current financial year has been the hardest year for the state government. He said that the present unrest has greatly affected the State in multiple ways and the State had experienced not only law and order issues, but its fiscal capacity was also severely impacted. The Chief Minister told the house that as per calculation, the state may suffer tax losses to the tune of Rs. 800 crore during the current year. This does not include the overall impact on the economy of the State and the actual impact will be known when the State GDP figure is finally reconciled with the Government of India, he added.

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N. Biren said that since the outbreak of unrest in the State, the Central Government has approved an amount of Rs. 400 crore for immediate relief to the State, in addition to many other forms of support. However, expenditure on relief and security measures has increased substantially and that the state government is in constant communication with the Central Government for additional support to help the State tide over the current resource shortage issues and that he is hopeful of a positive outcome in this regard. N. Biren said despite various challenges faced in recent months, both in terms of resources and implementation of projects and schemes, the state government has been working tirelessly to fulfill its commitment to the people.

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