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Chowna Mein presents Rs 546 cr deficit Budget

By Correspondent

ITANAGAR, March 12 - Arunachal Pradesh Deputy Chief Minister Chowna Mein, also the Minister in-charge of Finance on Monday presented a Rs 546 crore deficit Budget for the financial year 2018-19 amid protest and walkout by Opposition People�s Party of Arunachal.

Presenting the Budget, Mein said, �The budget, on a whole put its thrust on eight key areas � education, skill development, health, governance reforms, IT, infrastructure, social security and agriculture & allied sectors.�

He said, the Gross State Domestic Product was estimated to be Rs 24,624 crore in 2017-18 growing from a level of Rs 22,099 crore in 2016-17 showing an annual growth of 11.4 per cent. The primary sector remained the dominant contributor to the economy at 42.44 per cent of GSDP at constant prices, while the tertiary sector contributed to 34.42 per cent of GSDP.

Sharing the State�s resource position and the projections for the coming financial year, he said, �The share of Central taxes grew from actual receipt of Rs 8,338.30 crore in 2016-17 to Rs 9,238.79 crore in revised estimates of 2017-18. The State�s own tax revenue in the Revised Estimates of 2017-18 is Rs 899.19 crore as against actual receipt of Rs 708.75 crore in 2016-17, growing at 26 per cent.

�In the budget estimates of 2018-19, we are projecting a revenue receipt of Rs 17,590.30 crore and a capital receipt of Rs 1,671.00 crore, making the total receipts of Rs 19,261.30 crore as against total receipt of Rs 17,348.54 crore in revised estimates of 2017-18.

Our share of Central taxes has been pegged at Rs 10,798.47 crore as per the Union Budget 2018-19. We have projected State�s own tax revenue to be at a level of Rs 1,100 crore. The non-tax revenue projection for 2018-19 has been pegged at Rs 800 crore,� Mein said in his budget statement.

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