Agartala, Sep 23 Tripura Finance Minister Pranajit Singha Roy on Wednesday asserted that the state’s financial condition was “still stable”, with its annual budget expanding significantly over the years.
The northeastern state’s annual budget, which was below Rs 15,000 crore in the 2017-18 financial year, has now risen to Rs 34,000 crore, while capital expenditure on infrastructure has also received a major boost in recent years.
“Despite curtailment of Rs 4,000 crore as gap funding following the recommendation of the 16th Finance Commission, the Centre has allocated Rs 3,450 crore under a new scheme titled ‘Pride of Hills’. We are exploring different avenues to manage the situation,” he said at a press conference.
Admitting that the curtailment of gap funding appeared to be a major setback for states like Tripura, Roy said government expenditure and development activities were continuing at full pace across the state.
“The state’s budget, which was below Rs 15,000 crore till 2017-18 FY, has increased to over Rs 34,000 crore during 2026-27 FY. Besides, capital expenditure has also gone up from Rs 2,500 crore to Rs 7,000 crore during 2026-27 FY. It shows the fiscal condition is still stable in the state,” he said.
Strongly advocating long-term borrowings, he said the state’s debt burden had increased as the government preferred to take long-term loans on favourable terms to accelerate development activities.
Roy said the formation of a pay commission for revision of the pay structure of government employees and pensioners was under active consideration and was likely to be constituted after Durga Puja.
The minister also announced a festival grant of Rs 2,400 each for Group C, Group D and other contractual employees on the occasion of Durga Puja.
The grant will benefit 1.48 lakh employees, excluding Group A and B personnel, and 85,916 pensioners. The total liability for the measure will be Rs 47.16 crore, he said.
(PTI News)
