budget

1. CM N. Biren Singh presented Manipur’s 2024-2025 budget, totaling Rs 34,899 crores in gross expenditure.
2. He highlighted the economic impact of recent unrest, including reduced revenue and increased security costs.
3. Singh emphasized ongoing efforts to recover the economy as normalcy returns.

Imphal, July 31: The sixth session of the 12th Manipur Legislative Assembly commenced today, with Chief Minister N. Biren Singh, who also oversees finance, presenting the budget estimates for 2024-2025, totaling Rs 34,899 crores in gross expenditure.

In his budget speech, CM Biren Singh highlighted the economic impact of recent unrest, noting reduced revenue collection, increased security and relief expenses, inflation, and difficulties in moving goods and services.

He emphasized ongoing efforts to recover the economy as normalcy returns.

Key Budget Figures:

  • Total Gross Expenditure: Rs 34,899 crores from the state’s consolidated fund.
  • Revenue Expenditure: Rs 20,628 crores.
  • Capital Outlay: Rs 8,616 crores.
  • Fiscal Deficit: Estimated at Rs 1,526 crores, or 3% of GSDP.
  • Outstanding Debt: Projected at 35% of GSDP for 2024-2025.
  • Total Receipts: Estimated at Rs 34,815 crores.
  • Revenue Receipts: Rs 27,716 crores.
  • Capital Receipts: Rs 7,099 crores.
  • State’s Tax Receipts: Rs 2,470 crores.
  • Non-Tax Receipts: Rs 300 crores.
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Biren Singh acknowledged significant support from the central government to mitigate the state’s revenue loss. This included:

  • Special Assistance for Revenue Loss: Rs 500 crores.
  • Externally Aided Project Funding: Rs 565 crores for infrastructure projects in 2023-2024.
  • Security-Related Expenditures: Over Rs 150 crores.
  • Special Relief Package: Rs 101.75 crores for relief camps and Rs 209.45 crores for relief and rehabilitation schemes.
  • Temporary Shelter Scheme: Rs 145.18 crores for 3,000 shelters for displaced families.

Developmental Projects:

  • DevINE Scheme: Infrastructure development for Dhanamanjuri University (Rs 71 crores) and Manipur Technical University (Rs 54 crores), with work starting this year.
  • Flood Management and Border Area Program: Rs 220 crores allocated for flood management in 10 river basins, with ongoing progress reported.

CM Biren Singh stressed the importance of these measures and projects in fostering Manipur’s economic recovery and development.