No new tax is proposed, but revenue collection shall be achieved largely through better tax administration, says finance minister & deputy CM Jishnu Dev Varma
Agartala: Tripura deputy chief minister Jishnu Dev Varma on Friday tabled the budget of Rs 19,891 crore with a deficit of Rs 511.41 crore having 19 new major announcements with a revenue expenditure of Rs 17,252.12 crore and capital expenditure of Rs 2,639.48 crore for the financial year 2020-21.
Presenting the budget in the assembly, Dev Varma, who also holds the portfolio of finance, said that no new tax has been proposed in the budget for 2020-21 fiscal year. The increase in tax revenues in this financial year shall be achieved largely through better tax administration.
“The government is making a new beginning by presenting separate accounts for scheduled caste (SC) and scheduled tribes (ST) sectoral budget. The government had also invited suggestions from citizens through My Gov Tripura,” Varma said.
He also said that a total of 78 projects worth Rs 163.07 core have been sanctioned for infrastructure projects by Tripura Infrastructure and Investment Fund Board.
Infrastructure projects’ in the pipeline of Rs 30,000 crore, this includes 12 EAPs (external aided projects) worth Rs 18,488 crore while projects worth Rs 4,460 crore have been sent to 15th Finance Commission.
Mentioning about plans of different departments for 2020-21 fiscal year, Dev Varma said, “The food grain production target has been fixed at 9.62 lakh MTs.”
“Two more border haats are being set up at Raghna in North Tripura district and Kamalpur in Dhalai district while similar proposals for Belonia and Khowai are in the pipeline. An EAP of Infrastructure Development of Industrial Estate under TIDC Limited for Rs 406.70 crore from ADB has also been submitted,” Varma added.
Project proposal of Rs 1,405.70 crore has been submitted to Asian Development Bank (ADB) for funding the work of 47.03 KMs new embankment, 154.41 KMs raising and strengthening of existing embankment, 14.62 flood protection and anti-erosion work at vulnerable locations, Varma added.