Arunachal: Deputy CM Chowna Mein Announces Deficit Budget Of Rs 758.26 Crore

ITANAGAR: The deficit budget for 2023–2024 was presented on Tuesday by Arunachal Pradesh's deputy chief minister, Chowna Mein. A special focus was placed on generating employment opportunities.

In comparison to the total predicted receipts of Rs 26,111.63 crore in the budget for 2022–23, the state has forecast total receipts of Rs 29,657.16 crore, a 14% increase.

Mein, who also holds the finance, planning, and investment portfolios, stated, "Our objective is to fulfil the aspirations of our people through impetus to economic growth and give them adequate livelihood options, especially the youth."

We are able to keep the fiscal deficit for the 2023–24 fiscal year at an estimated 2% of gross state domestic product (GSDP), or Rs. 758.26 crore, he claimed.

According to him, the GSDP of the state has increased from Rs 20,373 crore in 2015–16 to Rs 39,000 crore at present.

The greatest percentage in the nation—and continuously so over a five-year period—of capital expenditure in overall expenditure has been maintained by Arunachal Pradesh, according to Mein.

In the last six years, he said, the per capita income of the households rose from Rs 88,768 to Rs 1,15,902.

The average income of the state's citizens has increased by more than 30%.

According to Mein, a road map has been prepared for the development of border areas, with all facilities available to the populace and armed forces. The budget gave priority to border area development through road connectivity and power projects to stop human migration.

According to him, the state is prepared to support Prime Minister Narendra Modi's goal of a $5 trillion economy.

He continued: "This year we are aiming to invest in the waterways sector as well." In the last six years, the state witnessed extraordinary progress in the infrastructure and connectivity sectors."

According to the deputy chief minister, the budget also places a strong emphasis on maintaining culture and heritage.

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