Manipur: Budget 2021 ensures India achieves high growth rate post-COVID-19, says CM

Imphal: Manipur chief minister N Biren Singh on Monday expressed said the Union Budget would ensure the country post COVID-19 fight in achieving high growth rate in across sectors.

Taking to his Twitter handle, CM Biren Singh said that “A budget which ensures that India in the post COVID-19 achieves high growth rate with stakeholders across the sectors being provided great opportunities to play their roles.”

Singh, who also holds the finance portfolio, congratulated the Prime Minister Narendra Modi and union finance minister Sitharaman for presenting the budget Atma Nirbhar Bharat Ka Budget, a self-reliant India.

Decoding the Union Budget, Singh further stated that while taxes and borrowings account for most of the funds inflow, interest payments and transfers to states are top spends, followed by central schemes, subsidies and defence expenditure.

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On the other hand, Dr Chinglen Maisnam, an economist, opined that even though the Northeast region depends on central funding for many of its basic needs and development works, unfortunately, the Union Budget 2021-22 paid little attention in a state like Manipur.

“No major plans have been announced and nothing specific about the Northeast region which badly needs industry and infrastructure in the wake of India’s Act East Policy. Also, the budget proposal has largely unseen the appalling need for expansionary fiscal transfer to the state governments in general and state governments of the northeast region in particular,” said Dr Maisnam.

According to him, the Budget 2021 is less friendly for states, more particularly resourced-starved and deficit-prone states of the northeast. Moreover, the budget lacks seriousness in addressing the issue of inclusive human development which has emerged as one of the biggest and immediate social problems, particularly in the region, he added.

He further stated that instead of addressing the showdown, the Union Budget would only reinforce the problem of demand and deepen the economic crisis for states like Manipur.

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