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Arunachal FM presents Rs 285 crore deficit budget
 ITANAGAR, March 10 - Arunachal Pradesh Deputy Chief Minister cum Minister in-charge of Finance Chowna Mein presented a Rs 285 crore deficit budget for financial year 2017-18, in the State Assembly today.

Presenting the first budget of the BJP Government in the State, led by country’s youngest Chief Minister Pema Khandu, Mein said, “In the budget estimates of 2017-18, the government is projecting a revenue receipt of Rs 14,599 crore and a capital receipt of Rs 1,436.75 crore, making the total receipts of Rs 16,035 crore, which marks an increase of over 15 per cent from the budget estimates of 2016-17.

“Our share of Central taxes has been pegged at Rs 9,306.34 crore and this represents the biggest source of resource for us,” he said, adding that State’s own tax revenue has been projected at Rs 742.94 crore and non-tax revenue projection for 2017-18 pegged at Rs 536.29 crore.

“In terms of our expenditure strategy, we are committed to meet the fiscal deficit. The State had a fiscal deficit of 0.4 per cent of GSDP in revised estimates of 2016-17, which is well within the 3 per cent obligation as per the FRBM Act. For the next financial year, we are projecting a fiscal deficit of 2.83 per cent of GSDP,” he said.

The expenditure management strategy will be to redirect government expenditure away from less productive expenditure to creation of tangible capital assets which improve the quality of life of the people. At the same time, we will continue with austerity measures, he added.

Mein said the annual budget prescribes the government’s major thrust areas under 15 broad themes. They include enhanced transparency through governance, empowerment of the youth and addressing the twin challenges of deficit in skills and jobs, transformation of rural farm economy, balanced regional development, overhauling the education system, creating an effective & affordable health services delivery model, measures for women empowerment, bridging the infrastructure deficit, revitalising the hydropower and tourism sectors, and following a sustainable growth path in harmony with environment.

The budget proposes launch of a slew of new projects including CM’s Swabalamban Yojana with an allocation of Rs 150 crore, CM’s Mission Organic for production of organic produsts in the Govt farms with a provision of Rs 2 crore, CM’s Krishi Rinn Yojana with allocation of Rs 3 crore, CM’s White Revolution Programme with an outlay of Rs 5 crore, CM’s Adarsh Gram Yojana with a corpus of Rs 93 crore, CM’s Adhunik Shiksha Yojana with an outlay of Rs 30 crore, and Rs 60 crore under CM’s Social Security Scheme.

The Budget further proposes to keep a provision of Rs 50 crore for socio-economic development of insurgency-infested districts of Tirap, Changlang and Longding.

Apart from Itanagar, the budget proposes to develop Pasighat, Tezu and Bomdila as regional growth centres and Rs 15 crore each for the newly created districts of Kra Daadi, Sinag, Lower Siang, Namsai and Longding to meet the urgent infrastructure requirements.

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