Manipur Budget 2024-2025: Key highlights and economic measures by CM Biren Singh

The sixth session of the 12th Manipur Legislative Assembly was commenced from today onwards. On the floor of the house, Chief Minister N Biren Singh who is also the in-charge of finance has presented budget estimates for the year 2024-2025 with gross expenditure of Rs 34,899 crores.

Delivering his budget speech, N Biren Singh said that the economy of state has been affected by unrest as it reduces revenue collection, increased expenditure on security and relief operations, inflation, difficulties in movement of goods and services, difficulties in implementation of projects and schemes etc. With returning of normalcy, continuous efforts are given to recover the economy. 

He further said that for the year 2024-2025, the total gross expenditure of Rs 34,899 crores out of the consolidated fund of the state. The total revenue expenditure is estimated at Rs 20,628 crores and capital outlay is estimated at Rs 8616 crores. 

Biren also informed that fiscal deficit is estimated at Rs 1526 crores which is 3 per cent of GSDP. During 2024-2025, the total outstanding debt as a percentage of GSDP is projected at 35 per cent. 

The total receipts are estimated at Rs 34,815 crores. The revenue receipts are estimated at Rs 27,716 crores and capital receipts at Rs 7099 crores. The total estimates of state’s own tax and non-tax receipts are Rs 2470 crores and Rs 300 crores respectively, he added.

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Biren mentioned the support extended by central government to make up the loss economy, he said that Central government has been providing huge assistance to make up the revenue loss suffered by the state. The central government approved a special assistance for revenue loss of Rs 500 crores. 

The central government facilitated the release of Rs 565 crores as externally aided project funding during 2023-2024. This amount has been used to finance various infrastructure works taken up by the government. Above this, Biren also received support for security-related expenditures amounting to more than Rs 150 crore. 

Special relief package of Rs 101.75 crores as one-time assistance for the operation of relief camps for displaced people due to violence was released. Another package of Rs 209.45 crores was also approved for running schemes of relief and rehabilitation of victims affected by ongoing law and order. Scheme for providing temporary shelter to displaced families for 3000 shelters was approved by central government for Rs 145.18 crore, Biren mentioned. 

Biren also highlighted various developmental projects taken up in various departments. 

Under DevINE scheme, they have received sanctions for the infrastructure development of two universities namely Dhanamanjuri University and Manipur Technical University. The sanction amount for Dhanamanjuri University is Rs 71 crore and for Manipur Technical University is Rs 54 crore. The work will be starting this year. 

The government of India had sanctioned the “Flood Management and Border Area Program” to take up flood management works in 10 river basins of the state. Works under this project are progressing well and Rs 220 crore has been allocated for this project, informed Biren.