Tripura Finance Minister Jishnu Dev Varma presented Rs. 19891.60 cr deficit Budget for 2020-21 in today. No new taxes were proposed. Deficit is pegged at Rs. 511.41 cr.
Enewstime Desk
Agartala, March 20, 2020: Finance Minister of Tripura Government, also Deputy Chief Minister Jishnu Dev Varma presented a Rs. 19,891.60 crore deficit Budget for 2020-21 in Assembly today. Deficit is pegged at Rs. 511.41 crore. No new taxes were proposed.
Budget Estimates
In his Budget speech, Dev Varma said, the collection of State’s Own Tax Revenue is projected at Rs. 2,439 crore in Budget estimates of 2020-21 with a Growth Rate of 11.61 percent over the revised estimates of 2019-20. The collection of State’s Own Non-Tax Revenue is projected Rs. 302 crore in Budget Estimates of 2020-21. The total Receipts from the Centre (including Share of Central Taxes and Deficit Grant) have been projected at Rs. 14,270.19 crore in Budget Estimates as against Rs. 11,256.83 crore in the Revised Estimates for 2019-20. The Gross Borrowings for year 2020-21 are estimated at about Rs. 2,567 crore.
The total Receipts including adjustment of Opening Balance in Budget Estimate 2020-21 are estimated to be about Rs. 19380.19 crore. The total Expenditure in the Budget Estimates for 2020-21 is projected at Rs. 19,891.60 crore which includes Revenue Expenditure of Rs. 17252.12 crore and Capital Expenditure of Rs. 2,639.48 crore.
Macro economic parameters
Presenting the Budget, Jishnu Dev Varma focused on emerging macro economic parameters of State. He said, The Gross State Domestic Product (GSDP) in Tripura is steadily rising. In 2019-20, it is expected to be Rs. 57,353 crore as per quick estimates as compared to Rs. 50,544 crore in 2018-19 and Rs. 44,161 crore in 2017-18.
The GSDP is expect to grow at 13.5 percent during 2019-20 in nominal term. The State’s GSDP growth in real terms is about 10 percent. Similarly, the Per Capita Income is expected to rise to Rs. 1.27 Lakh compared to Rs. 1 Lakh in 2017-18.
The Finance Minister also said, Despite having various challenges, we strive to make Tripura – an Aspirational Tripura, a Progressing Tripura and an Achiever Tripura in which all sections of the society achieve better standards of living with access to Healthcare, Quality Education and jobs. Towards this goal, a novel initiative was taken in Tripura to fund infrastructure projects by setting up Tripura Infrastructure and Investment Fund Board. So far, 78 projects worth Rs. 163.07 crore have been sanctioned. The State has started work on Infrastructure projects’ pipeline of Rs. 30,000 crore which is in different stages of implementation. This includes 12 External Aided Projects worth Rs. 18,488 crore. Moreover, projects worth Rs. 4,460 crore have been sent to 15th Finance Commission.
