Manipur Legislative assembly presents 2017-18 budgets

Our Correspondent Imphal, July 20 (EMN): The Second Session of the Eleventh Manipur Legislative assembly began today with presentation of Budget Estimates, 2017-18. Presenting the Budget Estimates for the year 2017-18, Deputy Chief Minister Yumnam Joykumar Singh said the government was committed to serve the people of the state with utmost sincerity, dedication and unflinching effort to fulfil the people’s aspirations. Stating the total revenue receipts have shown an estimated increase from Rs 9950.15 crore to Rs 11,096.25 crore as compared to last financial year, the finance minister said, “Our government is making efforts for enhancing state’s revenue in various sectors.” Despite the sharp increase in the salary component (32 percent) from previous financial year, the government will attach high priority to restoring fiscal balance and creating the necessary fiscal space for capital expenditure, he added. For 2017-18, the total receipts is estimated at Rs 12510.61 crore out of which revenue receipts are estimated at Rs 11096.25 crore and capital receipts at Rs 1414.36 crore. During this fiscal year, it is proposed to have a total expenditure of Rs 12420.65 crore out of the Consolidated Fund of the State. Out of this, Rs 9952.35 crore is under Revenue account and Rs 2468.30 crore under Capital account. Out of the total expenditure, an amount of Rs 961.31 crore is charged expenditure and the remaining amount of Rs 11459.34 crore is voted expenditure. Chief Minister Biren Singh also presented Third Report of the Business Advisory Committee, 2017 and moved the motion for allocation of time proposed by the Committee in the day’s session.