By A O News Service
ITANAGAR, Mar 07: Deputy Chief Minister Chowna Mein on Tuesday presented a Rs 758.26 crore deficit budget for 2023-24 for Arunachal Pradesh, with special emphasis on ‘Atma-Nirbharta through fulfilling youth aspirations and creating livelihood opportunities.
Mein, who also holds the Finance, Planning and Investment portfolios, in his over two-hour long budget speech in the Assembly, said that the six pillars have been chosen by the state Govt to lay a strong foundation of a happy society, which is constructively engaged in sustainable development of the state, are very aligned to seven priorities of Union Budget 2023-24.
“Our vision is to support the aspirations of our people through impetus to economic growth and provide them with ample livelihood opportunities, especially the youth,” he said.
In 2023-24 budget estimates, the state has projected a total receipts of Rs 29,657.16 crore, which is 14% higher compared to total estimated receipts of Rs 26,111.63 crore in budget estimate of 2022-23, he said in his speech.
“For 2023-24 fiscal, we are able to keep the fiscal deficit at an estimated 2% of gross state domestic product (GSDP) which is Rs 758.26 crore,” Mein disclosed.
This is not only within the norms of fiscal deficit targets laid down in Arunachal Pradesh Fiscal Responsibility and Budget Management (FRBM) Act 2006, but is also lower than the fiscal deficit in 2022-23 budget estimate, he added.
He said, the GSDP was estimated at Rs 29,372 crore in 2022-23 budget estimate and at Rs 37,870 crore in revised estimate at current prices.
The state’s GSDP has nearly doubled since 2015-16. We have nearly reached Rs 39,000 crore GSDP mark. When compared to Rs 20,373 crore in 2015-16, this is a staggering rise of 86%, he said.
“Arunachal Pradesh has been able to maintain more than 30% share of capital expenditure in total expenditure outlay, which is highest in the country and consistently so over a five-year period,” Mein said.
He added that the per capita income of households has increased from Rs 88,768 to Rs 1,15,902 in last six years. This is a more than 30% increase in the average income of state people.
Mein added that the Budget 2023-24 which is based on six pillars of the Govt – ‘Governance Reforms and Prudent Financial Management’, ‘Synergy and Convergence’, ‘Investment in Health Sector’, ‘Investment in Human Capital’, ‘Atma-Nirbhar Arunachal Pradesh’ and ‘Environment Protection and Climate Resilient Development’, are meant to support aspirations of the people through impetus to economic growth and provide them with ample livelihood opportunities, especially the youth.
Fulfilling aspirations of the youth, and livelihood generation through self-employment opportunities while continuing with our investment in infrastructure for improved connectivity will be the foundation of a prosperous and happy Arunachal Pradesh in the Amrit Kaal, Mein told reporters later.
“We are ready to contribute to Prime Minister Narendra Modi’s vision of a USD 5 trillion economy and become a ‘developed’ state of a ‘developed’ nation,” he said.
On the vision of the state Govt, Mein informed that the state government would plan accordingly to the vision 2047 of the PM ‘India at 100’ and act step by step.
In last six years, the state witnessed an unprecedented development in the infrastructure and connectivity sector. This year we are planning to invest in the water ways sector too, he said and added that emphasis is also being laid in the budget on preservation of culture and tradition besides, the state’s history, which would be added in school curriculum.
The budget also prioritized border area development through road connectivity, power projects so as to stop migration of people, Mein said adding, a road map has been prepared for complete development of border areas with all available facilities to the people and armed forces.
For making the people atma nirbhar, Mein said, the Govt has brought several schemes which would help them become self-reliant.
“We want that our people should not be job seekers but job giver through various self-employment opportunities,” he added.
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