Assam has been projected to grow at 6.88 per cent during 2013-14 compared to 5.87 per cent in the previous fiscal, Assam Chief Minister Tarun Gogoi said while presenting the state budget for the FY’15.
“I am happy to inform that the projected growth rate of Assam for 2013-14 is 6.88 per cent, which was 5.87 per cent for 2012-13 as per the latest Central Statistical Organisation estimates,” Mr. Gogoi, who also holds the Finance portfolio, said.
This is on the backdrop of lower national growth, which improved to 4.7 per cent in 2013-14 from 4.5 per cent in 2012-13, he said.
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“Contrary to the trend elsewhere of expenditure compression, our state is in a comfortable position to add further momentum to development activities. This has been possible because of our prudent financial management,” the Chief Minister said.
According to advance estimates for 2013-14, the per capita income has registered a growth of 4.63 per cent at constant prices and 14.53 per cent at current prices in 2013-14 over the previous year, the budget said.
Mr. Gogoi said “Our per capita Net State Domestic Product stood at Rs. 46,354 in 2013-14 compared to the national per capita income of Rs. 74,920 during the same period. Therefore, all out effort is required to be taken to bring our per capita income to the national level.”
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Besides, the state was able to attain a revenue surplus of Rs. 1,554 crore in 2012-13.
“According to the CAG report for the Financial Year 2012-13, our fiscal deficit was 1.06 per cent of GSDP as against FRBM target of 3 per cent. It may be mentioned that Government of India’s fiscal deficit for the same year was 4.8 per cent of GDP,” Mr. Gogoi said.
On excise duty, the Budget has fixed a target of Rs. 709 crore for the current financial year. About Rs. 616 crore was collected as excise revenue and Rs. 434 crore was collected as VAT on liquor during 2013-14, Mr. Gogoi said.
Talking about the Annual Plan allocation, he said discussion with the Planning Commission Deputy Chairman has not yet taken place and the plan size is yet to be finalised.
“However, for implementation of plan schemes, a detailed tentative plan outlay of Rs. 21,811.65 crore for 2014-15 has been worked out,” he added.
The Budget also said an amount of Rs. 2,015.74 crore has been earmarked for implementation of 13 externally aided projects in the state in the current fiscal.
“Transfer of fund to PRIs and ULBs recommended by the 4th State Finance Commission for the current financial year is Rs. 1,090 crore, consisting Rs. 550 crore as tax devolution and Rs. 540 crore as grant,” it said.
In addition to that, the 13th Finance Commission had recommended a total transfer of Rs. 57,832.70 crore to Assam during the five year period from 2010 to 2015, which includes Rs. 52,620.60 crore as the state’s share of central taxes and Rs. 5,212.10 crore as grants-in-aid.