Manipur CM Biren Singh presents budget with focus on agricultural sector

Imphal: Manipur Chief Minister N Biren Singh on Wednesday tabled the state budget for the financial year 2024-25, with a gross expenditure of Rs 34,899 crore, focusing on the agricultural sector and rehabilitation of the people affected by natural disasters.

Singh who is also the finance minister said the Gross State Domestic Product (GSDP) for 2024-25 is estimated at Rs 49,937 crore.

Presenting the budget on the first day of the session, Singh emphasized the significance of agriculture to the state's economy, acknowledging the challenges faced by farmers due to the unrest and natural disasters.

"Compensation has been paid to many affected farmers, with more to follow. Efforts are underway to ensure that all cultivable plots of land are accessible to farmers," Singh said.

He highlighted the increased support from Centrally Sponsored Schemes (CSS) and announced an allocation of Rs 883 crore for agriculture and allied sectors, including fisheries, horticulture, animal husbandry, and organic crops.

Singh also expressed concern about the recent natural disaster that occurred in the state in May and July.

"A special relief package of Rs 101.75 crore was approved for operating relief camps for displaced individuals. Another Rs 209.45 crore was allocated for relief and rehabilitation schemes. Furthermore, the central government approved Rs 145.18 crore for temporary shelters for 3000 displaced persons," he said.

The chief minister also said that a proposal for compensation for damage caused by hailstorms has been submitted to the central government following a recent inspection by a central team.

The chief minister had on February 28 presented a vote-on-account, stating that it can better coordinate its efforts with the central government when the full-fledged Union Budget would be tabled later this year.

Singh said that the proposed total gross expenditure from the Consolidated Fund is Rs 34,899 crore, with revenue expenditure at Rs 20,628 crore and a capital outlay of Rs 8,616 crore. The fiscal deficit is estimated at Rs 1,526 crore, which is 3 per cent of the GSDP.

Total receipts are anticipated at Rs 34,815 crore and revenue receipts are at Rs 27,716 crore while capital receipts are estimated to be Rs 7,099 crore.

The state's own tax and non-tax receipts are projected at Rs 2,470 crore and Rs 300 crore, respectively, Singh said.