Manipur CM proposes a budget deficit of Rs 891 crore for fiscal year 2023–24

N Biren Singh, the chief minister of Manipur, proposed a budget deficit of Rs. 891 crore for the fiscal year 2023–24 at the third session of the 12th Manipur Legislative Assembly. The deficit budget for the previous year was Rs. 1230 crore.

The CM, who also holds a finance portfolio, presented the Budget Estimates for FY 2023–24 on Tuesday, totaling Rs 35,022 crore. He stated that of this amount, Rs 29,588 crore is voted and Rs 5,729 crore is charged. The budget is Rs 69.19 crore greater than the budget estimates for 2022–23, but it is Rs 679.49 crore less than the revised estimate (RE) for that year, according to the chief minister.

CM Biren recommended spending Rs 35,022 crore from the state's consolidated fund during the fiscal year 2023–24, with an expected revenue expenditure of Rs 20,292 crore and estimated capital expenditures of Rs 10,013 crore.

According to the CM, the budget deficit for 2023–24 is expected to be Rs 2760 crore, or 6.1% of GSDP, while the predicted total outstanding debt as a proportion of GSDP is 39.93%. He stated that the projected Gross State Domestic Product (GSDP) for 2023–2024 is Rs. 45,145 crore.

The chief minister informed the House of the sectors to which the government gives importance and announced the commencement of a "higher education mission" to enhance the infrastructure of government colleges, tourism, and sports, among other things.