The Tripura government today presented a tax-free deficit Budget of Rs 14,948.92 crore in the state Assembly for the 2015-16 fiscal.
The total receipt was pegged at Rs 14,759.74 crore and the total expenditure as Rs 14,948.92 crore and the deficit amount was stated to be at Rs 189.18 crore.
In his budget speech, Finance Minister Bhanu Lal Saha said the deficit would be covered by means of better tax compliance, austerity measures and additional resource mobilisation.
He said, the collection of state's own tax revenue was projected at Rs 1,320 crore in budget estimates with a growth rate of 6.37 per cent over the revised estimates of last year.
The collection of state's non-tax revenue was projected at Rs 310 crore in the estimate of 2015-16 fiscal with a growth rate of 39.08 per cent over last year's revised estimate.
The receipts from share of central taxes have been projected at Rs 1,890 crore in the budget with an increase of five per cent over the revised estimates of last year.
State was expected to get Rs 650 crore under the Non-Plan Gap Grant during 2015-16 as against Rs 600 crore of 2014-15.
The central transfers other than share of Central taxes under Non-Plan and grants under plan heads have been pegged at Rs 9,004.74 crore in Budget estimates for 2015-16.
The overall total receipts excluding adjustment of opening balance in the budget estimates for 2015-16 would be Rs 14,259.74 crore. The gross borrowing was projected at Rs 1,733 crore, which included market borrowings of Rs 910 crore and negotiated loan of Rs 210 crore.
The finance minister said the state government has filled up a few thousand vacant posts despite its meagre resources, has introduced the gender budget for women and girls since 2005-06 and informed that Rs 438.99 crore has been provided for the purpose in the budget.
He said, the state government took special initiatives for planned development of agriculture, and rice cultivation went up by 18-25 per cent recently.
Saha said, the state government has taken initiative to improve conditions of two National Highways in the state and has given top priority to connect all remaining habitation in the state.
The second unit of the 726 MW gas-based thermal power project at Palatana in Gomati district was likely to start commercial production by the end of this month, the minister added.
