Agartala, Feb 11 (IANS) Tripura Finance Minister Bhanulal Saha Wednesday presented a Rs.149.48 billion tax-free budget for the 2015-16 fiscal with a deficit of Rs.1.89 billion.
No new taxes have been proposed and no increase of existing taxes projected in the budget, presented on the fourth day of the month-long budget session of the state assembly.
"We have planned to cover the budgetary deficit of Rs.1.89 billion by compressing non-development expenditure, stepping up of resource mobilisation, better tax enforcement and effecting austerity measures," state finance secretary Ashutosh Jindal told reporters after the budget presentation.
He said: "By adopting a similar method, we have covered the current year's budget deficit of Rs.1.58 billion."
Jindal said the state's share of union taxes and duties in the coming financial year was expected to be Rs.18.90 billion against Rs.18 billion in the current fiscal.
Saha, presenting his first state budget in the assembly, said the measures would enlarge the scope of employment-generation in the state.
Speaking on the issue of NITI Aayog, he said: "Constitution of the National Institution for Transforming India Aayog to replace the Planning Commission is a regressive step which would further push the country into a market-driven economy and privatisation."
"Through the NITI Aayog, the Centre would force states to go in for public-private partnerships and to vie with one another to attract private capital to their territories, leading to the centralisation of economic powers and also deprive the special category states in the matter of mobilising resources for economic development."
The minister said the credit-deposit ratio of the banks in Tripura was 40 percent as against 75.9 percent at the national level and must be increased.
"To uplift the economic conditions of women, the Tripura government has introduced the gender budget since 2005-06. Eighteen departments have been included under the gender budget and Rs.4.39 billion has been provided for the purpose."
Saha said the government would soon set up a new state university to boost higher education.
"The drastic reduction in allocation under MGNREGA has put the rural economy of Tripura under severe strain," he said, adding that the union rural development ministry had approved a labour budget of Rs.14.07 billion for the current year but the ministry recently informed that only Rs.6.52 billion would be made available to Tripura.
Prime Minister Narendra Modi (PM Narendra Modi) today interacted with 54 districts across the cou
Dragon's disturbance in the close friendship of India and Bhutan! Buffer zone in danger, know
India's concern has been raised in the virtual meeting of the foreign ministers of Bhutan and Chi
Mumbai: Because of the increasing threat of Corona, the Maharashtra government has announced a ni
Barring some states of the country, the rainy season seems to be stopping. The rains in October h
RBSE 12th Science Commerce Result 2022: The Rajasthan Board of Secondary Education (RBSE) has rel
The pace of corona in the country is under control. For the second consecutive day on Tuesday, th
The first team of the Special Security Force (SSF) has reached Ayodhya for the security of Shri R
Congress Working Committee meeting begins in Delhi, may decide on holding organization elections
Two-four Congress Working Committee meetings have started with the toughest political challenges
The first qualifier match of IPL 2022 was played between Rajasthan Royals and Gujarat Titans. The
NEET UG 2022: List of exam center cities for NEET-UG 2022 released, check here
NEET UG 2022: National Testing Agency i.e. NTA has released the list of cities of examination cen