IMPHAL, March 14: Chief Minister O Ibobi Singh has tabled the budget estimates for the financial year 2011-12 at the floor of the house today as a part of initiating the full budget discussion at the ongoing 10th Session of the 9th Manipur Legislative Assembly.
The CM while presenting the full budget for the forthcoming financial year in the house today mentioned that, the presented budget is momentous in the sense that this would be the last budget presentation for the second consecutive 5 years term of the SPF government, as in less than a year the SPF government would complete its second full term in power. It is admitted that, without the people’s support and trust, this would not have been possible and further expressed gratitude to the people of the state through the August house for having reposed faith and confidence in the government for two consecutive terms. Ever since the present state government assumed office in 2002, the government has consistently worked to take the state to the path of peace, progress and prosperity with diligence, sincerity and hard work. Now after almost 10 years at the helm of state affairs, the government is happy to note that the state is slowly reaping the fruits of various developmental measures that the government undertook during these years. Now the state government has to further consolidate these developmental gains so that the aspirants and expectations of every single Manipuri are fulfilled.
He further mentioned that, the process of finalization of the state’s Plan Size for the fiscal year 2011-12 concluded only last month and it has become a fortunate moment for the state that the Planning Commission has been generous in approving a reasonable plan size of Rs.3210 crore which represent an increase of 23 percent over the approved Plan Outlay of Rs.2600 crores for 2010-11. The approved plan allocation, however, will be subject to the scheme of financing which inter-alia underlines stringent measures for fiscal discipline, additional resources mobilization and sound financial management.
Chief Minister also mentioned that, over the last 10 years, the government has succeeded in normalizing the economic and financial health of the state and the situation has improved considerably. The ways and means position is comfortable and the resources are being channelized more rationally. In spite of the inherent structural constraints all possible effort is being made to carry the states finance forward in a more disciplined way. Further, the range of development strategies and measures that the state government introduced during the last ten years has brought about visible transformation in the state’s economy.
Chief Minister further mentioned that, there have been tremendous improvements in various developmental activities that have been undertaken in the state during the said last ten years of SPF government. And further highlighting the likely fiscal position during the fiscal year, he maintained that the revenue account is estimated to be in surplus for eight consecutive years. Fiscal deficit is estimated at (-) Rs839 crore. The total outstanding fiscal liabilities is projected at 66 percent of the GSDP during 2011-12, the Chief Minister added.
