Rs 35,022cr budget with expenditure proposal presented by CM

Imphal: Manipur Chief Minister N Biren Singh on Tuesday presented the budget for 2023-24 in the Assembly proposing an outlay of Rs 35,022 crore from the state’s general fund.

Singh said the budget proposals focus on education, health, sports and agriculture.
“For the year 2023-24, I am proposing a total outlay of Rs 35,022 crore from 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,” he said. The CM said.

In the Budget Estimates 2022-23, the total expenditure was estimated at Rs 34,930 crore.
Total receipts are estimated at Rs 34,131 crore – revenue receipts at Rs 27,547 crore and capital receipts at Rs 6,584 crore. The state’s total tax and non-tax receipts are estimated at Rs 3,200 crore and Rs 400 crore respectively.

“The budget deficit is estimated at Rs 891 crore, which is lower than 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% of GSDP. During 2023-24, the total outstanding debt as a percentage of GSDP is projected to be 39.93 percent.
The Gross State Domestic Product (GSDP) estimate for 2023-24 is 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 to invest at least Rs 60 crore in the next financial year. To meet the revenue expenditure requirements, we are providing Rs 10 crore in the budget,” Singh said.
The government will continue its support to the startup ecosystem in the state and Rs 100 crore is being provided in this budget.

To promote indigenous sports in the state, work has been started on a local sports complex in Senapati district under an investment scheme of Rs 7.2 crore allocated this year.
Noting that Manipur has a huge potential for millet cultivation, the budget has earmarked Rs 2 crore for the promotion of millets in addition to the funding provided under various centrally sponsored schemes.

The United Nations has declared 2023 as the International Year of Sorghum.