Manipur CM Presents Annual Budget with Expenditure Proposal of Over Rs 35 Cr

The Budget proposes to spend Rs 35,022 crore for the financial year.
Manipur Chief Minister N Biren Singh
Manipur Chief Minister N Biren Singh

Manipur Chief Minister N Biren Singh presented the state budget for 2023-24 with an expenditure proposal of Rs 35,022 crores.

The budget lays focus on key areas including infrastructure, education, agriculture, health and sports amongst other things.

The total Revenue Expenditure is estimated at Rs 20,292 crores while the Capital outlay is estimated at Rs 10,013 crores, the Chief Minister said.

In the Budget Estimate 2022-23, the total expenditure estimated was Rs 34,930 crores. The total receipts are estimated at Rs 34,131 crores - revenue receipts at Rs 27,547 crores and capital receipts at Rs 6,584 crores. Total estimates of the state's own tax and non-tax receipts are Rs 3,200 crores and Rs 400 crores respectively.

The budget deficit is estimated at Rs 891 crores, which is a reduction from last year's budget deficit of Rs 1,230 crores, Singh said.

The Gross State Domestic Product (GSDP) for 2023-24 is estimated at Rs 45,145 crores.

The fiscal deficit is estimated at Rs 2,760 crores which is 6.1 per cent of the GSDP. During 2023-24, the total outstanding debt as a percentage of GSDP is projected at 39.93 per cent.

Manipur Chief Minister N Biren Singh
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The administration also proposed to launch the College Fagathansi Mission' to improve the infrastructure of government colleges.

Under the mission, we are planning capital investment of at least Rs 60 crores in the next financial year. To meet requirements of revenue expenditure, we are providing Rs 10 crores in the Budget, Singh said.

On the other hand, the government will continue its support to the Start Up Ecosystem in the state and Rs 100 crores is being provided for this.

The budget has also provided an allocation of Rs 2 crores for the promotion of millets in addition to funding provided under various Centrally Sponsored Schemes.

On the sports development front, the state government has allocated Rs 7.2 crores this year for the promotion of the Indigenous Sports Complex in the Senapati district under the Scheme for Capital Investment.

The state government, however, aims to build at least two world-class academies to promote sports like football and boxing.

Manipur Chief Minister N Biren Singh
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