Manipur CM Biren Singh presents Budget estimate for 2024-2025

Leader of the House and Chief Minister (in charge of Finance), N. Biren Singh presented the Budget Estimates for 2024-25 (Vote-on-Account). 

The budget proposed a total expenditure of Rs 34,040 crores out of the Consolidated Fund of the State. 

Total Revenue Expenditure is estimated at Rs 20,246 crores and Capital outlay is estimated at Rs. 8,155 crores.

A press release issued by the Directorate of Information and Public Relations stated chief minister's speech was presented on the first day of the 5th session of the 12th Manipur Legislative Assembly.

Chief Minister has said the Fiscal deficit is estimated at Rs. (-) 2344 crores. This is (-) 4.45% of the GSDP. During 2024-25, the total outstanding debt as a percentage of GSDP is projected at 32%. The Gross State Domestic Product (GSDP) for 2024-25 is estimated at Rs. 52,711 crores. 

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On Revised Estimate 2023-24, CM said, in the Budget Estimate 2023-24, total expenditure was estimated at Rs. 35022 crores. The total expenditure during RE 2023-24 has been revised to Rs. 32591 crores. Revenue receipts and capital receipts were estimated at Rs. 27547 crores and Rs. 6583 crores respectively in Budget Estimates 2023-24. This has now been revised to Rs. 23627 crores and Rs. 8000 crores in RE 2023-24 respectively. All overall receipts and expenditure figures are inclusive of Ways and Means Advances and Repayments. He continued that taking into account all receipts and expenditures, the current year is expected to have a budgetary deficit of Rs. (-) 962 crores in RE 2023-24 as against the deficit of Rs. (-) 890 crores in BE 2023-24. The fiscal deficit for 2023-24 (RE) is projected at Rs. (-) 2235 crores, which is (-) 4.91 % of GSDP.

Highlighting the various achievements and the initiatives taken up by his government, Chief Minister said this year has been one of the most challenging years that the State has faced. However, he said the Government remains committed to safeguarding the territorial integrity of Manipur, protection of the lives of all its citizens, action against anti-social and anti-national elements and ensuring the ‘rule of law’. The Government will ensure that all necessary support will be given to those who have suffered in the unfortunate events of the past few months, he asserted.

He continued, since the outbreak of unrest in the State, the Central Government has approved an amount of Rs. 400 crores for immediate relief to the State, in addition to many other forms of support. The immediate relief support includes daily rations, management of relief camps, construction of prefabricated structures, cash transfers for daily needs to inmates, nutrition and personal hygiene support etc. The State Government is in constant communication with the Central Government for additional support. The Government have supported the livelihood of those affected by taking up various livelihood generation activities, provision of skill training, support with tool kits etc. with a focus on those in the relief camps. In order to mitigate the impact of the unrest on students’ education, the State Government had taken up many steps. 

In spite of various challenges faced in recent months, both in terms of resources and implementation of projects and schemes, the government have been working tirelessly to fulfill the commitment to the people, CM mentioned. 

Leader of the House and Chief Minister (in charge of Finance), N. Biren Singh presented the Demands for Supplementary Grants for the year 2023 – 2024 amounting to Rs. 3546 crores covering 26 Demands and 2 Appropriations. He also moved the motion for vote on accounts 2024-2025. CM also presented sixth report of Business Advisory Committee.