IMPHAL, Mar 21: With a view to enable his Government discharge its responsibilities and meet all essential expenditure during the first four months of 2017-18 (April-July), Chief Minister N Biren presented a Vote on Account for Budget Estimates 2017-18 amounting to Rs 3828,31,90,667 in the State Assembly today.
The Chief Minister also proposed to present a full budget later which would reflect key priorities on financial and development planning for the ensuing fiscal year.
One of the key priorities of the new Government would be to exercise fiscal prudence and maintain financial discipline.
The entire process of planning and budgeting is seeing a change in the country. The States are now empowered to plan and budget themselves for State schemes, except for Centrally Sponsored Schemes (CSS), Biren stated.
The Plan and Non-Plan categorization will be done away with and they would be merged into one from the ensuing fiscal year 2017-18. The Budget shall be categorised into Revenue and Capital heads only.
The thrust areas of the new Government as laid out by the Chief Minister in the State Assembly are bringing transparency and responsiveness in administration, inclusive development by introducing the concept of financing based on topographic deficit in infrastructure, improving access, equity and excellence in education, access to quality health care and access to piped drinking water.
Other key areas of priority are improving inter and intra district connectivity, strengthening eco-tourism, effective highway protection and enhancing job opportunity and entrepreneurship potential of the people of the State.
The Government would accord due importance to all round development and reducing regional imbalance between hill and valley. The Government shall bring in territorial budget deficit concept and it would ensure timely completion of all ongoing projects, the Chief Minister informed the House.
For 2017-18, the total receipts is estimated at Rs 11808.13 crore tentatively out of which revenue receipts are estimated at Rs 10393.77 crore and capital receipts at Rs 1414.36 crore.
Total estimates of State’s own tax and non-tax receipts in the budget estimates are Rs 641.16 crore and Rs 200.79 crore respectively. Receipts from the State’s share in Central taxes and duties is estimated at Rs 4168.45 crore, Biren stated. He proposed a tentative total expenditure of Rs 11484.96 crore out of the consolidated fund of the State.
Out of this, Rs 9590.30 crore is under revenue account and Rs 1894.66 crore under capital account. Out of the total expenditure, an amount of Rs 960.76 crore is charged expenditure and the remaining amount of Rs 10524.19 is voted expenditure, Biren continued.
The Chief Minister also tabled another vote on account for supplementary grants amounting to Rs 3308.13 crore covering 45 demands and two appropriations. Out of this, Rs 946.52 crore is charged under consolidated fund of the State while Rs 2361.61 crore is to be voted by the House, added the Chief Minister.
Source: The Sangai Express
