Itanagar: Arunachal Pradesh Finance Minister Chowna Mein on Saturday presented a Rs 218.05 crore deficit budget for the financial year 2012-13 with neither enhancement of taxes nor any new tax proposals.
Though the annual plan outlay of the state has not been finalised by Planning Commission (PC), the estimate of resources for financing the annual plan 2012-13 has been estimated at Rs 3342.36 crore tentatively, Mein said in his budget speech.
“The state government is proposing to project a much higher estimate of annual plan 2012-13 to the planning commission which will be finalized only after the meeting of chief minister Nabam Tuki and deputy chairman of the PC,” Mein said.
The budget has been prepared in consonance with the Medium Term Fiscal Plan (MTFP) of the state in accordance with the recommendation of the 13th Finance Commission and stipulated under the Arunachal Pradesh Fiscal Responsibility and Budget Management Act 2006, Mein said.
“The Budget Estimates for 2012-13 show a receipt of Rs 6,525.81 crore under the consolidated fund of the sate and of this Rs 6, 522.31 crore is on revenue account and the remaining 3.50 crore (excluding borrowing) is under Capital Account,” he said.
He said the total expenditure from the consolidated fund during 2012-13 under Non-Plam was estimated at Rs 2880. 76 crore of which Rs 2647.19 crore was on revenue account and Rs 233.57 crore on capital account.
“Under Plan it is estimated at Rs 4192.86 crore including Rs 850.36 crore under central schemes of which an amount of Rs 1556.62 crore is on revenue account and Rs 2636.24 crore on capital account,” he said.
Referring to the thrust areas in the budget, the minister informed that the state government was planning to create sufficient job opportunities for the unemployed youths through development of hydro-power, tourism, information technology besides creating self-employment avenues through development of agriculture, horticulture, tea, bamboo and rubber cultivation besides industry, handloom and handicrafts.
“We are formulating policies by constituting an appropriate body such as Arunachal Employment Generation Council (EGC) and Skills Development Council (SDC) and also the state will take full guidance and support from National Skill Development Fund,” the finance minister said.
The government was contemplating to promote rubber plantation in the 12th plan period (2012-17) for self sustenance of the farmers and in the next five years 4000 hectares of area would be covered under rubber plantation in addition to existing 2000 hectares in the state, he said.
“The total cost of the project is about 50 crore and as a beginning in 2012-13, we will cover 400 hectares at a cost of three crore by support from the government in addition to the subsidy being provided by the Rubber Board,” the Finance Minister said adding farmers could earn around Rs 2.5 lakh per hectare of rubber plantations. (PTI)