Tripura presents a ‘pro-people’, 'tax-free' and 'zero deficit' budget slating progressive prospects for youths, rural development

NewsBharati    25-Feb-2019

Agartala, February 25: Tabling the state budget, Tripura Deputy Chief Minister Jishnu Devvarma on Monday slated a ‘tax-free’, ‘pro-people’ and ‘zero deficit’ budget with several proposals for youth, rural development, public distribution system and free smartphones for fresh graduates. Deputy CM Devvarma, who holds the finance portfolio, presented a budget of Rs 17,530.46 crore and claimed that his government has succeeded in gaining a revenue growth of 14.5% in the last one year due to better tax management and administrative policies.

He further added that the government aims for a tax revenue collection of Rs 2,048.95 crore this financial year. The estimate accounts for a non-tax revenue collection of Rs 285.21 crore and Rs 12,764.30 crore fund receipt from the state, including a share of central taxes and deficit grants. This is slightly higher than the non-tax revenue provisions of Rs 12,506.18 crores in the revised estimates of the current financial year.

 

However, this budget also aims to bootstrap the gross borrowing of nearly Rs 2,430 crore. Meanwhile, the total expenditure for 2019-20 was projected at Rs 17,530.46 crore in the budget estimate, including a revenue expenditure of Rs 14,061.32 crore and a capital expenditure of Rs 3,469.14 crore.

The budget also carried provisions to increase the social security pension from Rs 700 to Rs 1,000 per month during the first phase for selected categories of beneficiaries. Prior to winning the February 18 assembly elections last year, the BJP in Tripura had promised to raise all social security pensions from Rs 700 to Rs 2,000 per month. The move to increase the amount to Rs 1,000 comes as the first step in the direction of fulfilling the poll promise, albeit half of it.

In its budget, the government has also proposed to develop 10 under-developed rural development blocks in Tripura Tribal Areas Autonomous District Council (TTADC) into ‘Model Blocks’. The model blocks would have a series of better services and amenities.

The budget also has provisions to supply sugar at subsidised rates through fair price shops to all households in this financial year and launching of additional Krishak Bandhu Centre (KBC) to reach technical knowledge about agriculture to the farmers’ doorstep. Thirteen KBCs are already operational in the state.

The state government also hopes to continue paddy procurement through Food Corporation of India (FCI) by bearing the additional rice milling bills.

A total of 1,867 check dams would be erected with funding from Japan International Cooperation Agency (JIA) and the Indo-German Development Cooperation (IGDC) projects. These dams would help in augmenting scopes for fish cultivation, drinking water supply, irrigation etc.