Manipur deputy Chief Minister Yumnam Joykumar Singh on Monday said the financial health of the State has improved considerably and the overall Gross State Domestic Products (GSDP) rate in the next fiscal year, 2018-19 is expected to increase up to 11.95 per cent. He was speaking to media persons at his official chamber in Imphal on Monday afternoon.
Deputy Chief Minister Joykumar who holds finance portfolio said, the State Government is committed for the welfare of people and therefore, budget estimates for the next fiscal 2018-19 is aimed to develop key areas like skill development, housing, drinking water, power and sports.
He also said the State Government is focussed to accelerate economic activities by curbing bandh, blockade and other forms of hindrances so that economic growth is enhanced considerably.
There has been substantial improvement in primary, secondary and tertiary sectors in the current fiscal and more improvement is likely in the next fiscal year, he added.
Joykumar added with the introduction of GST (goods and service tax), tax collection has increased and it will contribute to improve overall financial health in the State.
He said the capital outlay will also be increased as expected, as centrally sponsored schemes have been successfully implementing in the State.
Revenue receipts from non-tax collection have also contributed in improving the economic growth, he added.
Stating that, a lot of infrastructures needs to be developed especially in sports sector to meet the growing demands, Joykumar who is also the finance minister, said special attention has been given to the sports sector and in the next fiscal year, four artificial football grounds and one artificial hockey field will be developed.
He also said that he has urged the Union Finance Minister to allocate more funds under Khelo India so that more infrastructures can be developed to tap the growing potential among the youths in the State.
Principal Secretary (Finance) VK Dewangan, Commissioner (Taxes) Hrishikesh Modak and other officers of Finance Department also attended the media interaction session.
Earlier in the day, in the ongoing Assembly session, Joykumar also presented the budget estimate of Rs 13,733.62 crores for the year 2018-19.
The revenue receipts are estimated at Rs 12,648.94 crore and capital receipts at Rs 1084.68 crore.Total estimates of the State’s own tax and non-tax receipts assumed in the budget estimates are Rs 1047.58 crore and Rs 248.53 crore respectively.