Imphal, Feb 23 (UNI) Chief Minister Okram Ibobi Singh, also holding the Finance portfolio, today presented the supplementary demands for grants for 2005-06 and presented a Rs 3362.93 crore budget for 2006-07.
The Chief Minister said the government started with a deficit of Rs 257.43 crore this year, and in the last three years, the government had faced a lot of financial problems.
'' The 12th Finance Commission awards do not fully commensurate with the requirements of the government. However, the government has streamlined the financial management and the Centre has also effected to reschedule the loans obtained by the state government and allowed to repay them over a period of 20 years at a lower rate of interest, '' Mr Singh informed the House.
This year the government had not diverted any of the plan resources this year for meeting the non-plan expenditure as had been the practice in the past.
The revised estimate of expenditure for 2005-06 with a gross expenditure of Rs 3141 crore showed an increase of Rs 89 crore as compared to Rs 3227 crore reflected in the budget estimate for 2005-06.
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