Tripura’s Fiscal Plan for FY 25-26 Reflects PM Modi’s Vision of Viksit Bharat: CM Saha
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Synopsis
On March 28, Tripura's Chief Minister, Manik Saha, highlighted the state's budget for FY 2025-26, asserting its importance in driving development aligned with PM Modi's vision for a 'Viksit Bharat'. This budget focuses on inclusive welfare and economic growth.
Key Takeaways
- Budget supports all societal segments
- Focus on economic growth and fiscal responsibility
- Investment in women's welfare and education
- Projected revenue growth indicates a self-reliant Tripura
- Government aims to maintain low debt levels
Agartala, March 28 (NationPress) The Chief Minister of Tripura, Manik Saha, declared on Friday that the state’s budget for the financial year 2025-26 is poised to be a crucial element in the state’s progress, harmonizing with Prime Minister Narendra Modi’s vision of constructing a ‘Viksit Bharat’.
Presented by Finance Minister Pranajit Singha Roy on March 21 during the initial day of the current budget session of the Tripura assembly, the tax-free budget amounts to Rs 32,423.44 crore for FY 2025-26 and was approved by the assembly on Friday.
During the assembly's budget discussion, the Chief Minister remarked that this budget caters to the interests of individuals from all societal segments.
“This budget is designed for the benefit of women, students, youth, Divyangjan (differently-abled individuals), tribals, Scheduled Castes, OBCs, minorities, employees, pensioners, ex-servicemen, and fundamentally, the general populace,” he stated in the assembly.
The Chief Minister emphasized that under the proficient leadership of Prime Minister Narendra Modi, India has ascended from 11th to 5th position globally regarding economic stability and growth.
“The government, under Modi's leadership, is diligently striving to transform India into the world’s third-largest economy by 2030. The Tripura government is equally committed to enhancing GSDP, per capita income, infrastructure, and maintaining fiscal discipline,” he added.
CM Saha noted that the people of Tripura reaffirmed their support for the BJP-led government for a second term in 2023, placing their faith in PM Modi’s development vision.
He mentioned that the state budget prioritizes six critical aspects – appropriate resource allocation, economic advancement, welfare and development, fiscal accountability, revenue planning, and transparency.
“In the fiscal year 2017-18, the state's own revenue collection stood at Rs 1,915 crore. The projected revenue collection for FY 2025-26 is anticipated to be Rs 4,514 crore. This underscores our ambition of fostering a self-sufficient Tripura,” asserted the Chief Minister.
CM Saha reiterated that the current state administration aims to avoid imposing debt on the state.
“This year, we are maintaining debt within the permissible cap of 3 percent of GSDP. For 2025-26, only Rs 1,225 crore has been earmarked for market debt. The state government is focusing on executing the maximum number of projects under the External Aided Scheme, with 10 projects currently in progress,” he stated.
He asserted that the recognition of the Tripura government’s achievements is resonating nationwide, highlighting that the effective implementation of various central projects is facilitating both socio-economic growth and infrastructural improvements.
“Beyond the budget, our double-engine government (Centre and state) is particularly attentive to enhancing the quality of life and job prospects for citizens throughout the state,” he emphasized.
“Our aim is to ensure comprehensive development for individuals from all backgrounds,” he added.
CM Saha pointed out that a review of prior budgets indicates a consistent increase in state budget allocations each year during the BJP's governance. The budget allocation for FY 2017-18 was Rs 15,956.56 crore.
The proposed budget for the ongoing fiscal year 2025-26 has surged to Rs 32,423 crore, marking a 103.21 percent increase, he highlighted.
Meanwhile, Tripura Finance Minister Pranajit Singha Roy disclosed the annual budget for the fiscal year 2025-26 on the first day of the assembly's budget session on March 21, unveiling 13 new schemes aimed at benefiting farmers, girls, women, youth, and the underprivileged.
He introduced a new initiative named ‘Mukhyamantri Kanya Bibaha Yojana’, under which the state government will bear the marriage expenses for girls from ‘Antyodaya’ (underprivileged) families, allocating Rs 50,000 for each.
“Mass marriages will be organized at the Subdivision level, with Rs 10 crore set aside for this initiative,” he mentioned.
Another new initiative, ‘Mukhyamantri Balika Samriddhi Yojana’, will involve an investment of Rs 50,000 for every newborn girl from an Antyodaya family, redeemable at maturity after the girl turns 18 years old, with a budget allocation of Rs 15 crore for this scheme in 2025-26.
