Arunachal govt presents deficit budget

Arunachal Pradesh Chief Minister Nabam Tuki today presented a deficit budget for FY 2015-16, with total revenue pegged at Rs 12,533.62 crore.
The government in its annual budget has given more thrust on employment generation through skill development, health and education sectors.
The budget estimate shows a receipt of Rs 12,533.62 crore under the Consolidated Fund of the state of which Rs 11,635.68 crore is on the Revenue Account and Rs 897.94 crore in the Capital Account.
The total expenditure from the Consolidated Fund under Non-Plan is estimated at Rs 5,980.06 crore of which Rs 5,590.64 crore is on the Revenue Account and Rs 389.42 crore on the Capital Account.

The expenditure under Plan is estimated at Rs 6,583.15 crore of which Rs 3,712.09 crore in on the Revenue Account and Rs 2,871.06 on the Capital Account.
Tuki, who also holds the finance portfolio, said in his budget speech that he proposed a tentative allocation of Rs 1941.19 crore in the social sector which is 20 per cent more than last year's allocation.

"I propose to keep a provision of Rs 778.25 crore for education (34 per cent more than last year), Rs 346.18 crore for health (22 per cent increase) and Rs 279.38 for water supply, an increase of 41 per cent over last year's allocation," the chief minister said.

The Budget also proposed an allocation of Rs 1,055.82 crore on infrastructure sector which is an increase of 23 per cent over 2014-15 allocation.
For agriculture and allied sectors including water resources, Rs 630.57 crore has been proposed, which is 20 per cent increase over last year, he said.
The state government in March presented a Vote on Account for four months due to non-finalisation of detailed Demands of Grants due to changes in funding pattern of central schemes and transition period of replacement of Planning Commission by the Niti Aayog.
"The debt-GSDP ratio during the current fiscal is 23.88 per cent, which is below the prescribed norm of 25 per cent," Tuki said adding, the net borrowing ceiling for the current financial year for Arunachal had been set at Rs 533 crore by the Centre which is 3 per cent of the GSDP.

Saying that the Budget proposed to keep the Gross Fiscal Deficit-GSDP ratio at less than 3 per cent, Tuki said the Gross Fiscal Deficit of the Budget estimate is 2.90 per cent of GSDP which would primarily be through market borrowing from RBI.