Agartala, Mar 21, 2025, TRIPURATIMES Desk

Agartala, Mar 21. Finance Minister Pranajit Singha Roy on Friday said that budget proposals for the fiscal year 2025-26 aims to ensure overall and inclusive development for the state.

Briefing the media persons, shortly after his budget speech, the Minister said, “Despite having fewer scopes for revenue generation, the Government of Tripura had been by and large successful in increasing the budget substantially in the last seven years. And, the endeavours of the government yielded results because of the increasing support from the centre through centrally sponsored schemes, increase in state’s share of taxes and a spike in state’s own revenue collection.”

According to the Minister, this year’s budget estimates increased by more than 4,500 crore. “This year we have tabled a budget proposal worth Rs 32,423 crore which is more than 4,500 crore up by 27,804 crore. We have laid extra emphasis on the capital expenditure with an allocation of Rs 7,903 crore which is 19.14 percent of the total budget outlay,” said Singha Roy.

The Minister also added that sectors like education, health and agriculture had been given due importance. “The allocation for agri and allied sector stands at Rs 1,885.42 crore with a hike of 9.49 percent. In the education sector Rs 6166.19 crore is earmarked with a rise of 11.94 percent from the previous year. The health sector allocation stands at Rs 1,948 crore which has been increased by 12.89 percent. Apart from that Rs 3,685 crore is kept for Panchayat and rural development sector.”

On being asked, the Minister said that funds were allocated for as many as 13 new schemes.

Expressing his optimism about state’ own revenue, the Minister said, “State’s own revenue collection has increased as well. The state’s own tax revenue collection stood at Rs 3,748 crore which is projected to touch the mark of Rs 4,010 crore. The non-tax revenue collection is projected to Rs 504 crore.”

To a specific query on the state’s debt burden, the Minister said, “The total debt on the state government stands at Rs 21,878.26 crore. For payment of interest the 4.46 percent of the budget is earmarked while for repayment of loan 3.12 percent of the loan.”

He said, according to the FRBM (Fiscal Responsibility and Budget Management) indicators, the state is eligible to avail more loans.

“According to FRBM standards, we are eligible to avail more loans. But, in order to keep the state free from unnecessary expenses on loan repayment, we are focusing on repayment of loans. On the other hand, there are certain long term loans repayment of which could be done after a certain period of 50 years or in lieu of either a very negligible interest rate or no interest. In such cases, we give priority to development and take loans. Repayment of the loans which were borrowed in the last seven years will be repaid after several years. The loan burden that we have carried forward from the Left Front government is being repaid now,” he added.

The Minister also noted that this year’s budget proposes a deficit worth Rs 429.56 crore which would be addressed through better fiscal management and tax collection.

It should be noted here that no new taxes had been proposed in the budget.