Imphal, February 5, 2018: The overall Gross State Domestic Products (GSDP) rate in the next fiscal year, 2018-19 is expected to increase upto 11.95 % with the considerable improvement in the financial health, said deputy chief minister Yumnam Joykumar.
The minister who also holds the portfolio of finance briefing the reporters at his secretariat chamber said the government is committed for the welfare of people and therefore, Budget Estimates for the next fiscal 2018-19 is aimed to develop key areas like skill development, housing, drinking water, power and sports.
The government is focussed to accelerate economic activities by curbing bandh, blockade and other forms of hindrances so that economic growth has been enhanced considerably. There have been substantial improvement in all the three sectors of the economy in the current fiscal and more improvement likely in the next fiscal year, he added.
He said with the introduction of Goods and Service Tax, tax collection has increased and it will contribute to improve overall financial health in the state. Capital outlay will also be increased as expected, as centrally sponsored schemes have been successfully implementing in the state. Revenue receipts from non-tax collection have also contributed in improving the economic growth, he added.
He said special attention has been given to the sports sector and in the next fiscal year, four artificial football grounds and one artificial hockey field will be developed. He also said that he has urged the Union finance minister to allocate more funds under Khelo India so that more infrastructures can be developed to tap the growing potential among the youths in the state.
Principal secretary (finance) V.K. Dewangan, commissioner (Taxes) Hrishikesh Modak and officers of finance department were present at the press conference.