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Tripura

Rs 26,893 cr tax-free deficit Budget presented in Tripura - 2 min read

Agartala: Tripura Deputy Chief Minister Jishnu Dev Varma on Thursday March 17 presented a Rs 26,893 crore Budget for 2022-23, containing several new plans including for ‘Atmanirbhar state’ for agriculture and farmers and Rs 1,000 crore “Suvarna Jayanti Tripura Nirman Yojana for various development projects as part of the celebrations of 50-years of statehood.

The fifth annual budget of the BJP-led coalition government shows a deficit of Rs 569.52 crore against Rs 773.43 crore deficit of the current fiscal (2021-22). The total budget allocation of Rs 26,893 crore in 2022-23 is an increase of 18.34 per cent over that of current fiscal.

Tabling the Budget on the first day of the week-long Assembly session, Dev Varma, who holds the Finance and Power portfolios, said that no new tax is proposed in the budget and the deficit would be covered by better fiscal management, tax compliance, transparency, austerity besides smart tax collections.

He said that the government in the budget has given thrust in five key sectors – education, health, tourism, information technology, agriculture and allied.

“To make large scale investment in infrastructures, capital expenditure has been doubled to Rs 5,285 crore in the budget estimates of 2022-23 from the Rs 2,651 crore in 2021-22. Allocations in education and health sectors have been increased by 20.66 per cent and 23 per cent respectively,” the Deputy Chief Minister said.

Announcing the increase in retirement age of 13,500 Tripura State Rifles jawans from 57 years to 60 years, Dev Varma said that the monthly social pension of around four lakh poor people would also be enhanced from Rs 1,000 to Rs 2,000 with effect from October this year and an allocation of Rs 645 crore has been earmarked in the budget for the purpose.

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The Deputy Chief Minister also announced six new schemes which include Tripura Industrial Investment Promotion Incentive (Rs 100 cr), Tripura Government Health Scheme (Rs 20 cr), Tripura Startup Fund (Rs 15 cr), Khelo Tripura, Susto Tripura to inculcate a habit of healthy lifestyle and to promote sporting activities (Rs 6.50 cr), Establishment of biofloc units under Mukhyamantri Nibir Matsyachash Prakalpa (Rs 6 cr) and Interest Subvention for piggery activities (Rs 5 cr).

Allocating Rs 50 crore in 2022-23, he said that the state government has rolled out ‘Mahila Sashaktikaran Abhiyan’ (women empowerment mission) giving focus to social, educational, economic and political empowerment to women in Tripura. “Under this mission, the state Government would provide 3 per cent interest subvention for women entrepreneurs and earmark 50 per cent funds for women in venture capital funds being set up by the state government.

“Expressing his gratitude to Union Finance Minister Nirmala Sitharaman, the Deputy Chief Minister said that the state government has already secured a World Bank Project of Rs 1300 crore. The project would improve the quality of life of tribal communities by providing access to quality education, livelihood support and road connectivity to 4.10 lakh families. This Project is our attempt to change the face of development in tribal areas in Tripura in the next 5 years,” Dev Varma said.

Tribals constitute one third of Tripura’s four million population.

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