Manipur CM tables Budget estimate for next fiscal

February 24 2014 : Chief Minister Okram Ibobi who is also in charge of Finance Department today tabled a tentative budget estimate for the financial year 2014-15 .
As a new Government would be set up at the Centre after the 16th Lok Sabha election, a definite plan outlay for the next financial year could not be fixed as yet.

The tentative budget estimate was tabled for taking Vote of Accounts so that the State Government can make necessary expenditures for the months of April to July this year with due approval of the House.

Tabling the tentative budget estimate, leader of the House O Ibobi stated that the Government is expecting Rs 7993.65 crore including Rs 7447.43 crore from revenue receipt and another Rs 456.22 crore from public account receipt during the financial year 2014-15.Figures for revenue and capital receipts under Plan are still tentative.

The estimated annual receipt will undergo some changes when the annual plan outlay is fixed, Ibobi stated.

It is estimated that the Government would get Rs 560.73 crore from the State's own taxes and another Rs 284.08 crore from non-tax receipt during the next financial year.

Revenue expected from value added tax is Rs 439.90 crore.

Tax share receipt estimated according to the central budget for 2014-15 is Rs 1753.36 crore.

The State would get Rs 1428.65 crore from the 13th Finance Commission and this include revenue deficit.

Expenditure estimates for 2014-15 are Rs 2643 from Plan sector, Rs 4975 from non-Plan head and Rs 622.39 crore from the remaining balance of central plan schemes and NEC schemes.

The total figure of estimated expenditures is Rs 8240.39 crore.

Even as the Chief Minister proposed a tentative plan outlay of Rs 2643 for 2014-15, he maintained that the figure would change after consulting the Deputy Chairman of the Planning Commission.

Fiscal deficit during the year 2014-15, as calculated based on the tentative estimates, would be Rs 514.48 crore which is 3.43 per cent of the Gross State Domestic Product (GSDP) .

Later, the leader of the House moved a Vote of Accounts for the four months (April-July) .

The Chief Minister then tabled the supplementary demand for grants for 2014-15 .

Source: e-pao

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