Tax-free deficit Budget placed in Tripura Assembly

AGARTALA, March 5 ? In the annual budget for the year 2002-03 tabled in the State Assembly on Monday the Tripura Government sought to emphasise on agriculture and allied sectors keeping in mind government?s target to achieve self sufficiency in food grains production by 2010. Surprisingly, the allocation for Home in this militancy-torn State did not show much increase while stress apart from agriculture and infrastructure development was given on health, drinking water facilities, education etc. The no tax Rs 40.71 crore deficit budget tabled by Finance Minister Badal Choudhury pegged the revenue receipt at Rs.2691.99 crore and envisaged expenditure at Rs.2732.70 crore. There was no proposal for fresh or additional tax in the budget. As the budget sought to curb non-Plan expenditure, it has fixed the provision for Plan outlay at Rs 659.08 crore pending finalisation of the annual plan outlay after discussion with the Planning Commission. It may be mentioned here that the Planning Commission allows the special category States like Tripura to divert maximum 20 per cent of Plan resources to the non-Plan sector. The Finance Minister said, the main item of receipt from the Central Government is the share of Union tax revenues and devolution of non-Plan gap grant. Our share of taxes this time has been estimated at Rs 358 crore in the report of 11th Finance Commission. In the budget it has been kept at the level of Rs 263.34 crore. ?While the last year?s Rs 106 crore deficit could be made, there was an opening balance with Rs 8.55 crore surplus. Our achievement is that the target upto year 2002-03 is being met. Moreover, Tripura is becoming revenue surplus again.? Though the budget sought to curb non-Plan revenue expenditure, salaries, pension and interest payment against loans taken, were maintained. The decrease in the non-Plan and non-salary expenditure was, in fact, a direct result of the Union Government?s direction and as per recommendations on the additional terms of reference of 11th Finance Commission. The Central Government had directed that medium term fiscal reform programme was to be implemented as per which five per cent improvement in revenue surplus was to be made during 2000-01 and 2001-02 while three per cent improvement is to be made in the balance from the current revenues for the year 2002-03. Finance Commissioner Debashis Sircar said, ?during 2001-02 major emphasis was given on increasing outlay for the Plan sector. Though posts worth Rs 110 crore were transferred from Plan to non-Plan which means the Plan size as per previous year should have been Rs 366 crore, the actual provision for Plan outlay for the year 2001-02 was Rs 634.51 crore. He said last year?s Rs 106 crore deficit could be met and a surplus of Rs 8.55 crore was achieved.