Rs 680 crore deficit Budget tabled in Manipur

Imphal, March 18: Chief Minister O Ibobi who also holds the Finance portfolio today presented Secular Progressive Front ministry?s first state budget for 2002-2003 encompassing a sum of Rs 2670.42 crores during the resumed session of the 8th State Assembly. The Budget estimates having a deficit of Rs 680.95 crores shows a decrease of Rs 99.07 crores over the Revised Estimates of 2001-2002. The revenue receipts are estimated at Rs 1346.42 crores. The revenue receipts include devolution of central taxes and duties, statutory grants etc as per the norms laid down by the 11th Finance Commission. The State?s own tax and non tax receipts are estimated at Rs 61.75 crores and Rs 49.37 crores. The gross revenue expenditure is estimated at Rs 1433.41 crores while on the capital account, the gross expenditure is estimated at Rs 1452 crores. The Budget statement proposed to revise the provisions made under State?s Plan Outlay is finalized by the Planning Commission. The Finance Minister said in the statement that he lays stress on taking up externally funded projects. With the coming on an end of the 9th Plan in 2001-2002, from 2002-2003 all Plan costs excepting multipurpose projects of Khuga, Thoubal and Dolaithabi have been transferred to Non Plan which will result in the availability of more Plan funds for development activities. The Budget also reflected a tentative provision of Rs 97.59 crores for CSS, CPS, NEC and NCDC schemes. The chief minister said the state has taken up steps for Medium Term Fiscal Reform Policy and discussions were held in December 2001 with representatives of the Union ministry of finance to evolve the road map for fiscal restructuring. Stating that an MOU will be entered into after a consensus is reached, he said its implementation will ensure financial freedom. The chief minister also introduced a Vote on Accounts for four months (April-July) having an amount of Rs 961,80,31,333 against the total amount of Rs 2885,40,94000 which was included in the Demand for Grants for 2002-2003.