Mein presents Rs 546 crore deficit Budget for FY 2018-19

Mein presents Rs 546 crore deficit Budget for FY 2018-19

| Staff REPORTER |

ITANAGAR, Mar 12: State’s Deputy Chief Minister Chowna Mein, also the Minister in-charge of Finance on Monday presented the Rs 546 crore deficit Budget for the financial year 2018-19, amid protest and walkout by the Opposition, as against last financial year’s Rs 689 crore deficit budget which was revised at Rs 673 crore.

Presenting the Budget 2018-19, Mein said, “The Annual Budget exercise gives us an opportunity to present our report card to the people who reposed trust in us and also to share with them through this House the blueprint of development for the coming year.

The Budget, on a whole put its thrust on eight key areas – education, skill development, health, governance reforms, IT, infrastructure, social security and agriculture & allied sectors.”

The budget has focused on the agrarian economy and empowerment of farmers. Deputy Commissioners have been given a huge responsibility for decentralized assistance to farmers.

A large number of schemes have been launched to revitalize the agriculture and allied sectors, with a focus on agricultural entrepreneurship, farm credit, agricultural extension, marketing and providing quality planting material.

In order to augment the resources available for financing new interventions in health and education sector, a 10% cess on liquor was being imposed from April 1, 2018, he informed.

He said, the Gross State Domestic Product was estimated to be Rs 24,624 crore in 2017-18 growing from a level of Rs 22,099 crore in 2016-17 showing an annual growth of 11.4% .The primary sector remained the dominant contributor to the economy at 42.44% of GSDP at constant prices, while the tertiary sector contributed to 34.42% of GSDP.

Sharing the State’s resource position and the projections for the coming financial year, he said: The share of Central taxes grew from actual receipt of Rs 8338.30 crore in 2016-17 to Rs 9238.79 crore in revised estimates of 2017-18. The state’s own tax revenue in the Revised Estimates of 2017-18 is Rs 899.19 crore as against actual receipt of Rs 708.75 crore in 2016-17, growing at 26%.

The non-tax revenue receipt in the revised estimates of 2017-18 was estimated at Rs 699.30 crore as against an actual collection of Rs 544.82 crore in 2016-17, showing a growth of almost 28%. The total tax and non-tax revenue of the state in 2017-18 was Rs 1598.49 crore as against the actual receipt of Rs 1253.57 crore in 2016-17.

“In the budget estimates of 2018-19, we are projecting a revenue receipt of Rs 17590.30 crore and a capital receipt of Rs 1671.00 crore, making the total receipts of Rs 19261.30 crore as against total receipt of Rs 17348.54 crore in revised estimates of 2017-18.

State share of Central taxes has been pegged at a level of Rs 10798.47 crore as per the Union Budget 2018-19 and the projected State’s own tax revenue is projected as Rs 1100 crore. The non-tax revenue projection for 2018-19 has been pegged at Rs 800 crore,” Mein said in his budget statement.

He said, “This year’s budget is aspirational at one level as it seeks to address the challenge faced by the educated youth. At another level, it is a pro people budget and seeks to find real solution to the problems faced by poor people in remote rural areas. It seeks to address the challenges faced by women in society, by the marginalized sections of society and by the labour class.

The key thematic thrust areas this year are based on the following policy objectives: ensure transparency in public spending through governance reform, sustainable economic development, equitable and inclusive development, infrastructure development, improved healthcare, improving the quality of education, skill development and create an eco-system of entrepreneurship, transforming rural farm economy and catalyzing economic development.”

Before concluding his over two-and-an-half-hours Budget speech, Mein said: Arunachal Pradesh today is poised at an inflexion point of history. We are moving into a new phase of development which marks change with continuity, where we preserve the old while creating the new.

In doing so, each one of us who is part of Team Arunachal must feel from our heart to be an equal participant of this transformation,” he said noting that “The new Arunachal cannot be built without the collective efforts of Team Arunachal.”

During a post-budget press meet, Mein said with regret that the Opposition engaged in mayhem in the House at a time when the members were eagerly waiting to hear the welfare measures for the people, farmers of the state. “We wanted to promote the students’ community through the Smart class wherever electricity is available and even making electricity available in areas devoid of power connectivity. “Usmey bhi unka nazar laag gaya,” he said pinpointing the PPA members’ protest.

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