Rs 17530.46 Cr tax free balanced budget tabled in Tripura

Rs 17530.46 Cr tax free balanced budget tabled in Tripura

Agency News

Agartala, Feb 25 : Tripura Finance Minister Jishnu Dev Varma today tabled tax free zero deficit budget of Rs 17530.46 Cr for 2019-20 in assembly where highest allocation of 23.16 per cent has been made for pension, debt servicing and other financial obligations followed by 20.81 per cent for education

Addressing the house, Dev Varma, who is also the deputy chief minister of the state, said that this is for the second time BJP-IPFT government could be able to make zero deficit budget in the state within a year of assuming power with a revenue growth of 14.43 per cent over this financial year.

The collection of state’s non-tax revenue is projected at Rs 285.21 cr in the total volume of estimated budget by the way of better tax management and cut down the wasteful expenditure. The government has also made a few announcements that include increase the social pension to Rs 1000 in first phase for certain categories, which are now is only Rs 700. The government announced to pay Rs 200 to each families residing along carpeted and blacktopped road in direct benefit transfer (DBT) model for growing and maintaining fruit bearing trees and flowers in roadside.

Dev Varma announced to start distribution of sugar at subsidized rate to households of all categories. As committed in the election manifesto, the state government will distribute smart phone among the graduates who will be passed this year in first phase. At least Rs 300 Cr will be disbursed in DBT model among five lakh farmers of the state under PM KISAN Yojana in next financial year.

“We shall distribute 10,000 cows among 5000 families under Mini Dairy Scheme of NABARD to boost milk production in the state and cent percent interest will be paid by the state government,” Dev Varma said adding that all households will be provided with pipe drinking water over next three years in a phased manner under Atal Jaldhara scheme.

While the receipts is balanced by the budgeted expenditure the important point that comes forth in the calculation of receipts is that 14.69 per cent of it comes from borrowings , share of central taxes and duties at 34.26 per cent, all centrally sponsored schemes at 28.49 per cent and finance commission grants at 6.53 per cent.

In terms of expenditure, 58.18 per cent of the budgeted amount will go for salaries (35.07per cent), pension (13.15 per cent), interest payment (5.87per cent) and repayment of loans (4.09 per cent) while only 41.82 per cent have been allocated for the head of others including projected development works, the budget reflected. UNI