Deputy CM of Arunachal presents Rs 758.26 cr deficit budget

Itanagar: Chowna Mein Arunachal Pradesh Deputy Chief Minister on Tuesday presented a deficit budget of Rs 758.26 crore for 2023-24, with special emphasis on creating livelihood opportunities.

The state has estimated total receipts of Rs 29,657.16 crore, which is 14 per cent higher than the total estimated receipts of Rs 26,111.63 crore in the 2022-23 budget.
“Our vision is to support the aspirations of our people by stimulating economic growth and providing them with ample employment opportunities, especially for the youth,” said Mein, who also holds the portfolios of finance, planning and investment.
“For the financial year 2023-24, we are able to peg the fiscal deficit at an estimated two per cent of Gross State Domestic Product (GSDP) which is Rs 758.26 crore,” he said.

He said the state’s GSDP has increased from around Rs 20,373 crore in 2015-16 to Rs 39,000 crore now.
“Arunachal Pradesh has been able to maintain more than 30 per cent share of investment in total expenditure, which is the highest in the country and consistently for a period of five years,” Mein said.
He added that the per capita income of households has increased from Rs 88,768 to Rs 1,15,902 in the last six years. This is more than 30% increase in the average income of the people of the state.
The budget prioritized development of border areas through road connectivity, and electrification projects to prevent migration of people, Mein said, adding that border areas should be developed with all available amenities for the people and the armed forces. A road map has been prepared.
“Fulfilling the aspirations of the youth, and generating livelihoods through self-employment opportunities while continuing our investment in infrastructure for better connectivity is key to a prosperous and prosperous Arunachal Pradesh,” Mein told reporters later it will be the foundation.”
He said that the state is ready to contribute to Prime Minister Narendra Modi’s vision of a 5 trillion US dollar economy.

In the last six years, the state has seen unprecedented growth in the infrastructure and connectivity sector, he said, adding: “This year we are planning to invest in the waterways sector as well.”
The Deputy Chief Minister said that the budget is also emphasizing on the preservation of culture and tradition.
He also introduced the Assam Frontier (Administration of Justice) Regulation (Amendment) Bill.

The Bill seeks to make provision for framing guidelines by the Government for selection, election, appointment, powers, functions and meetings of the village head.

Two other bills were also introduced in the assembly.