IMPHAL, July 7(IFP): The chief minister Okram Ibobi Singh has presented a Budget estimates of Rs.5965.24 crores for 2010-11 before the Manipur Legislative Assembly on the opening day of the state Budget Session.
The chief minister holds the additional portfolio of finance minister.
While presenting the budget estimates 2010-11 today the chief minister elaborated that the presented budget estimates for the financial year 2010 -11 is an increase of 13 percent over 2009-10 (Revised Estimates) of Rs. 5294.40 crores. The revenue receipts at Rs. 596.97 crores. Total estimates of State's own tax and non-tax receipts assumed in the budget Estimates are Rs. 288.74 crores and Rs. 456.63 crores respectively. These estimates have been framed keeping in view the additional Resource Mobilization Measures being taken up the existing SPF government which will be implemented during the course of the year and the potential resources for the state as per the plan Financing Scheme for 2010-11. Major increase is proposed from VAT, Power receipts and Miscellanous General Services.
The chief minister further mentioned that, receipt from state's share in Central Taxes and Duties is expected to be increase by over 58 percent over 2009-10 (Revenue Estimates). Plan grants from the centre are estimated at Rs. 1336.94 crores which is an increase of 25 percent over 2009-10 (RE). Plan Grant including CSS/CPS for the current fiscal is estimated at Rs. 2341.89 crores.
Coming to the Expenditure Estimates for the year 2010-11 (BE), chief minister further mentioned that the state government is a total expenditure of Rs. 5946. crores out of the Consolidated fund of the state, an increase of 16 percent over 2009-10 (RE) of Rs. 5142 crores. Out of this, Rs. 3027.06 crores is under Non-plan, Rs.2600 crores under State Plan and Rs. 318.04 crores under Centrally Sponsored Schemes.
The provision in respect of the CSS, CPS and NEC Schemes. The provision in respects of CSS, CPS and NEC Schemes, are subjected to change according to actual releases during the course of the year.
The chief minister further explained that, out of the total expenditure, an amount of Rs. 486.81 crores is charged expenditure and the remaining amount of Rs. 5479.12 crores is Voted expenditure. The Revenue Expenditure is estimated at Rs. 4049.79 crores while Capital Expenditure is estimated at Rs. 1896.21 crores.
The chief minister also further mentioned that, under the Non-Plan Revenue Account, the total expenditure is projected at Rs 2912.57 crores during 2010-11. This is an increase of Rs. 521.44 crores over 20o9-10 (RE). The increase is primarlily due to pay and pension revision based on 6th Pay Commission recommendations and proposed new recruitments in police, education and Health Departments. Salary expenditure during 2010-11 is projected at Rs. 1580.68 crores, out of which Rs. 429.80 crores is of police Department, Rs. 448.67 crores is of education Department and Rs. 104.59 crores is of the Health Department.
The chief minister also further mentioned that, expenditure under this account is one of the most important components under the state's budget as it is used for creation of capital assets.
On the other hand because of the concentrated effort made by the existing SPF government and generous support from central UPA government plan size for the Annual Plan 2010-11 has been fixed at Rs. 2600 crores, the chief minister said.
This is 30 percent above the previous year's approved plan size of Rs. 2000 crores.
The budget papers also further mentioned that, state plan will be financed to the extent of 77 percent by the Central Plan Assistance and Special Plan Assistance. Normal Central Assistance has been fixed at Rs. 706.94 crores. A sum of Rs. 750 crores is for taking up important and priority projects in the state under Special Plan Assistance (SPA) and Rs. 427.02 crores has been earmarked for implementing specific schemes under Additional Central Assistance. The assistance for External Aided Projects is Rs. 62.11 crores. The rest will be financed by way of Open Market Borrowings, Negotiated Loans, Small Saving Loan and balance from the Public Account.
For the year 2010-11, the Government of India has fixed the net Market Borrowing limit at Rs. 263 crores keeping in view the fiscal deficit cap of 3.5 percent of the GSDP as fixed by the 13th Finance Commission.
In the meantime chief minister explaining reasons for the inability to timely finalise the plan size for the state for the financial year 2010-11, said, due to the absence of the details on the quantum of non-plan transfers under 13th Finance Commission award on which the Non-Plan resources and expenditure of the state are dependent, a full budget could not be presented in the last session and only a Vote on Account was passed to meet all essential expenditures during the first quarter of 2010-11.
He said, the plan size for 2010-11 and the quantum of non-plan allocations for 2010-11 under the 13th Finance Commission award are now available. In the light of the above, chief further proposed to present a full budget for 2010-11 and also highlighted some of the past achievements, future priorities, challenges and concerns of the SPF government that the overall growth momentum which picked up over the past five to six years still continues to hold on.He said, The gross State Domestic Products (GSDP) at current prices increased from Rs. 5847.89 crores in 2007-08 to Rs. 6343.73 crores in 2008-09 to an estimated Rs. 6902.60 crores in 2009-10 indicating an annual growth rate of 8%.
In the same period, the per capita annual income increased from Rs. 22,325 to Rs. 23, 759 and to Rs. 25,370 which on an average increased by about 6% per annum.
The chief minister further mentioned that, in this period, the contribution of the agricultural sector decreased from 24.98% to 22.29%. The contribution of the service sector also decreased but marginally from 41.62% to 40.70%. On the other hand, the share of industry increased from 33.46% to 36.99%, mainly due to increase in the share of construction sectors from 23.28% to 26.96%. With the growth prospects of the Indian economy improving and increase capital formation and investments expected during the current year on account of the substantial increase in the State Paln's size, it is expeted that the growth momentum to accelerate further and cross the 10% mark during this fiscal, chief minister added.
Ealier leader of the house, chief minister O Ibobi Singh has presented the 14th Report of the Business Advisory Committee, 2010 and move the motion in the house today seeking the house to agree with the allocation of time recommended by the committee.
Later the House unanimously agreed to continue budget session of the state Assembly with the allocation of time recommended by the Business Advisory Committee of the state Assembly.
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