Imphal: Manipur Chief Minister, N. Biren Singh in-charge Finance, tabled the full Budget Estimates, 2023-24 proposed a total expenditure of Rs 35022 crores of the consolidated fund of the state.

Total Revenue Expenditure in the fiscal is estimated at Rs. 20292 crores. Capital outlay is estimated at Rs. 10013 crores.
Singh said that the state Government continues to take steps to mobilize resources to meet increasing expenditure requirements.

The government is focusing on improving own tax revenue, by increasing collection from existing taxes and also exploring new avenues of revenue mobilization.

Technology-based analysis and identification is being used by our agencies to improve compliance. Any additional resource mobilized will assist the State to meet its various obligations, he said. Our efforts have borne fruit which can be seen from the growth in State GST by 28 % and in overall State’s own tax revenue by 25 % growth in 2021-22 compared to 2020-21.

In the Budget Estimate 2022-23, total expenditure was Rs. 34930 crores. The total expenditure during RE 2022-23 has been revised to Rs. 35882 crores. Revenue receipts and capital receipts were estimated at Rs. 24448 crores and Rs. 9252 crores respectively in Budget Estimates 2022-23. This has now been revised to Rs. 25601 crores and Rs. 9836 crores in RE 2022-23 respectively.

Taking into account all receipts and expenditures, the current year is expected to have a budgetary deficit of Rs. 445 crores in RE 2022-23 as against the deficit of Rs. 1230 crores in BE 2022-23. The fiscal deficit for 2022-23 (RE) is projected at Rs. 2550 crores, which is 6.8 % of GSDP.

The total receipts are estimated at Rs. 34131 crores. The revenue receipts are estimated at Rs. 27547 crores and capital receipts at Rs. 6584 crores. Total estimates of State’s own tax and non-tax receipts are Rs. 3200 crores and Rs. 400 crores respectively. 82. For the year 2023-24, he proposed a total expenditure of Rs. 35022 crores out of the Consolidated Fund of the State. Total Revenue Expenditure is estimated at Rs. 20292 crores. Capital outlay is estimated at Rs. 10013 crores.
“ Budget deficit is estimated at Rs. 891 crore, which is a reduction from last year’s budget deficit of Rs. 1230 crore. We will continue to consolidate our finances. Fiscal deficit is estimated at Rs. 2760 crores. This is 6.1 % of the GSDP. During 2023-24, the total outstanding debt as a percentage of GSDP is projected at 39.93 %. The Gross State Domestic Product (GSDP) for 2023-24 is estimated at Rs. 45145 crores” he added.

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