The Finance Minister of Tripura, Mr. Pranajit Singha Roy, presented the Budget for the state for the financial year 2024-25 on March 1, 2024.
Budget Highlights
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Expenditure (excluding debt repayment) in 2024-25 is estimated to be Rs 27,238 crore, an increase of 6% over the revised estimates of 2023-24. In addition, debt of Rs 567 crore will be repaid by the state.
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Receipts (excluding borrowings) for 2024-25 are estimated to be Rs 22,983 crore, an increase of 3% as compared to the revised estimates of 2023-24.
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Revenue surplus in 2024-25 is estimated to be Rs 1,787 crore, a 73% increase over the revised estimate for 2023-24 (Rs 1,033 crore). In 2023-24, at the budget stage, the state had estimated a surplus of Rs 12 crore.
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Fiscal deficit for 2024-25 is targeted at Rs 4,255 crore. In 2023-24, as per the revised estimates, fiscal deficit is expected to be Rs 3,381 crore, 23% lower than the budget estimate for 2023-24.
Policy Highlights
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Public distribution: Scheme to modernise beneficiary authentication in fair price shops will be launched.
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Land bank: A land bank will be set up to develop and lease unused government land.
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Electrification: Habitations inhabited by particularly vulnerable tribal groups will be electrified in 2024-25.
Tripura’s Economy
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Figure 1: Growth in GSDP and sectors in Tripura at constant prices (2011-12) Note: Agriculture also includes mining and quarrying; manufacturing also includes construction, and electricity, gas, water, and other utility services. These numbers are as per constant prices (2011-12) which implies that the growth rate is adjusted for inflation. |
Budget Estimates for 2024-25
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Total expenditure (excluding debt repayment) in 2024-25 is targeted at Rs 27,238 crore. This is an increase of 6% over the revised estimate for 2023-24. This expenditure is proposed to be met through receipts (excluding borrowings) of Rs 22,983 crore and net borrowings of Rs 2,695 crore.
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Revenue surplus in 2024-25 is estimated to be Rs 1,787 crore, which is an increase of 73% over the revised estimate for 2023-24 (Rs 1,033 crore). Fiscal deficit for 2024-25 is targeted at Rs 4,255 crore, which is an increase of 26% over the revised estimates for 2023-24.
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In 2023-24, as per the revised estimates, the revenue surplus is expected to exceed the budgeted surplus (Rs 12 crore) by Rs 1,021 crore. Fiscal deficit is expected to be 23% lower than the budget estimate. The decline is primarily due to a reduction in revenue expenditure, driven by lower spending on salaries and pensions than initially budgeted.
Table 1: Budget 2024-25 - Key figures (in Rs crore)
Items |
2022-23 Actuals |
2023-24 Budgeted |
2023-24 Revised |
% change from BE 23-24 to RE 23-24 |
2024-25 Budgeted |
% change from RE 23-24 to BE 24-25 |
Total Expenditure |
20,865 |
27,654 |
26,659 |
-3.6% |
27,805 |
4.3% |
(-) Repayment of debt |
992 |
918 |
903 |
-1.7% |
567 |
-37.2% |
Net Expenditure (E) |
19,873 |
26,736 |
25,756 |
-3.7% |
27,238 |
5.8% |
Total Receipts |
19,238 |
25,643 |
25,609 |
-0.1% |
26,244 |
2.5% |
(-) Borrowings |
877 |
3,314 |
3,234 |
-2.4% |
3,261 |
0.8% |
of which special loan for capex from centre# |
350 |
628 |
712 |
13.3% |
850 |
19.4% |
Net Receipts (R) |
18,361 |
22,330 |
22,375 |
0.2% |
22,983 |
2.7% |
Fiscal Deficit (E-R) |
1,513 |
4,407 |
3,381 |
-23.3% |
4,255 |
25.8% |
as % of GSDP |
2.1% |
- |
4.0% |
- |
- |
- |
Revenue Surplus |
570 |
12 |
1,033 |
8651.0% |
1,787 |
72.9% |
as % of GSDP |
0.8% |
- |
1.2% |
- |
- |
- |
Primary Deficit |
139 |
2,905 |
1,972 |
-32.1% |
2,769 |
40.4% |
as % of GSDP |
0.2% |
- |
2.3% |
- |
- |
- |
GSDP* |
72,636 |
- |
84,127 |
- |
- |
- |
Note: BE is Budget Estimates; RE is Revised Estimates. The fiscal deficit numbers in the table may not match those in the budget as Special Assistance for Capital Investment has been treated as part of the government’s borrowings while calculating deficits.
#The central government has been providing 50-year interest free loan to states for capital expenditure, which is over and above the permitted borrowing ceiling for a given financial year.
*Estimates for GSDP at the budget stage not available for both 2023-24 and 2024-25.
Sources: Annual Financial Statement, Tripura Budget 2024-25; PRS.
Expenditure in 2024-25
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Table 2: Expenditure budget 2024-25 (in Rs crore)
Items |
2022-23 Actuals |
2023-24 Budgeted |
2023-24 Revised |
% change from BE 23-24 to RE 23-24 |
2024-25 Budgeted |
% change from RE 23-24 to BE 24-25 |
Revenue Expenditure |
17,739 |
22,296 |
21,320 |
-4% |
21,171 |
-1% |
Capital Outlay |
2,025 |
4,438 |
4,334 |
-2% |
6,065 |
40% |
Loans given by the state |
110 |
2 |
102 |
4545% |
2 |
-98% |
Net Expenditure |
19,873 |
26,736 |
25,756 |
-4% |
27,238 |
6% |
Sources: Annual Financial Statement, Tripura Budget 2024-25; PRS.
Committed expenditure: Committed expenditure of a state typically includes expenditure on payment of salaries, pensions, and interest. A larger proportion of budget allocated for committed expenditure items limits the state’s flexibility to decide on other expenditure priorities such as capital outlay. In 2024-25, Tripura is estimated to spend Rs 12,466 crore on committed expenditure, which is 54% of its estimated revenue receipts. This is similar to the national average of estimated committed expenditure by states (53% of revenue receipts in 2023-24). In 2023-24, as per revised estimates, expenditure on salaries, pension, and interest payment is estimated to decrease by 8%, 6%, and 6% respectively.
Table 3: Committed Expenditure in 2024-25 (in Rs crore)
Committed Expenditure |
2022-23 Actuals |
2023-24 Budgeted |
2023-24 Revised |
% change from BE 23-24 to RE 23-24 |
2024-25 Budgeted |
% change from RE 23-24 to BE 24-25 |
Salaries |
6,025 |
7,852 |
7,254 |
-8% |
7,768 |
7% |
Pension |
2,682 |
3,296 |
3,107 |
-6% |
3,212 |
3% |
Interest payment |
1,374 |
1,502 |
1,409 |
-6% |
1,486 |
5% |
Total Committed Expenditure |
10,080 |
12,650 |
11,769 |
-7% |
12,466 |
6% |
Sources: Annual Financial Statement, Tripura Budget 2024-25; PRS.
Sector-wise expenditure: The sectors listed below account for 67% of the total expenditure on sectors by the state in 2024-25. A comparison of Tripura’s expenditure on key sectors with that by other states is shown in Annexure 1.
Table 4: Sector-wise expenditure under Tripura Budget 2024-25 (in Rs crore)
Sector |
2022-23 Actuals |
2023-24 Budgeted |
2023-24 Revised |
2024-25 Budgeted |
% change from RE 23-24 to BE 24-25 |
Education, Sports, Arts, and Culture |
2,436 |
3,281 |
3,344 |
3,611 |
8% |
Police |
1,599 |
2,094 |
2,023 |
2,152 |
6% |
Social Welfare and Nutrition |
1,450 |
1,818 |
1,788 |
1,892 |
6% |
Rural Development |
1,031 |
1,612 |
1,536 |
1,843 |
20% |
Agriculture and Allied Activities |
990 |
1,526 |
1,355 |
1,759 |
30% |
Health and Family Welfare |
1,130 |
1,671 |
1,491 |
1,694 |
14% |
Roads and Bridges |
778 |
1,414 |
1,353 |
1,610 |
19% |
Welfare of SC, ST, OBC, and Minorities |
570 |
1,135 |
1,039 |
1,153 |
11% |
Urban Development |
560 |
1,222 |
1,091 |
1,120 |
3% |
Energy |
200 |
481 |
461 |
732 |
59% |
Water Supply and Sanitation |
346 |
564 |
523 |
665 |
27% |
% of total expenditure on all sectors |
56% |
63% |
62% |
67% |
7% |
Sources: Annual Financial Statement, Tripura Budget 2024-25; PRS.
Receipts in 2024-25
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Total revenue receipts for 2024-25 are estimated to be Rs 22,958 crore, an increase of 3% over the revised estimate for 2023-24. Of this, Rs 4,223 crore (18%) will be raised by the state through its own resources, and Rs 18,735 crore (82%) will come from the centre. Resources from the centre will be in the form of state’s share in central taxes (38% of revenue receipts) and grants (44% of revenue receipts).
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Devolution: In 2024-25, state’s share in central taxes is estimated at Rs 8,636 crore, an increase of 10% over the revised estimate for 2023-24. In 2023-24, as per the revised estimates, Tripura’s share in the central taxes is estimated to be Rs 7,820 crore, 8% higher than the budgeted estimate.
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Grants from the centre in 2024-25 are estimated at Rs 10,098 crore, a decrease of 5% from the revised estimates for 2023-24. This decline (Rs 530 crore) is estimated to be largely on account of reduction in revenue deficit grants and grants for the Pradhan Mantri Awas Yojana - Rural.
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State’s own tax revenue: Tripura’s total own tax revenue is estimated to be Rs 3,748 crore in 2024-25, an increase of 8% over the revised estimate for 2023-24.
Table 5: Break-up of the state government’s receipts (in Rs crore)
Items |
2022-23 Actuals |
2023-24 Budgeted |
2023-24 Revised |
% change from BE 2023-24 to RE 2023-24 |
2024-25 Budgeted |
% change from RE 2023-24 to BE 2024-25 |
State’s Own Tax |
3,000 |
3,360 |
3,456 |
3% |
3,748 |
8% |
State’s Own Non-Tax |
402 |
450 |
450 |
0% |
475 |
6% |
Share in Central Taxes |
6,724 |
7,232 |
7,820 |
8% |
8,636 |
10% |
Grants-in-aid from Centre |
8,183 |
11,266 |
10,628 |
-6% |
10,098 |
-5% |
Revenue Receipts |
18,309 |
22,308 |
22,354 |
0% |
22,958 |
3% |
Non-debt Capital Receipts |
52 |
22 |
21 |
-5% |
25 |
19% |
Net Receipts |
18,361 |
22,330 |
22,375 |
0.2% |
22,983 |
3% |
Note: BE is Budget Estimates; RE is Revised Estimates.
Sources: Annual Financial Statement, Tripura Budget 2024-25; PRS.
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Table 6: Major sources of state’s own-tax revenue (in Rs crore)
Head |
2022-23 Actuals |
2023-24 Budgeted |
2023-24 Revised |
% change from BE 23-24 to RE 23-24 |
2024-25 Budgeted |
% change from RE 23-24 to BE 24-25 |
State GST |
1,459 |
1,634 |
1,713 |
5% |
1,816 |
6% |
Sales Tax/ VAT |
464 |
519 |
568 |
9% |
630 |
11% |
State Excise |
368 |
412 |
430 |
4% |
477 |
11% |
Taxes on Vehicles |
118 |
132 |
132 |
0% |
147 |
11% |
Stamps Duty and Registration Fees |
103 |
115 |
125 |
9% |
139 |
11% |
Taxes and Duties on Electricity |
36 |
40 |
46 |
14% |
49 |
8% |
Land Revenue |
13 |
14 |
21 |
46% |
25 |
21% |
Sources: Annual Financial Statement, Revenue Budget, Tripura Budget 2024-25; PRS.
Annexure 1: Comparison of states’ expenditure on key sectors
The graphs below compare Tripura’s expenditure in 2024-25 on six key sectors as a proportion of its total expenditure on all sectors. The average for a sector indicates the average expenditure in that sector by 31 states (including Tripura) as per their budget estimates of 2023-24.[1]
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Education: Tripura has allocated 13.3% of its expenditure on education in 2024-25. This is lower than the average allocation for education by states in 2023-24 (14.7%).
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Health: Tripura has allocated 6.2% of its total expenditure towards health. This is similar to the average allocation for health by states.
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Agriculture: Tripura has allocated 6.5% of its total expenditure towards agriculture, which is higher than the average expenditure on agriculture by states (5.9%).
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Police: Tripura has allocated 7.9% of its expenditure on police. This is significantly higher than the average allocation for police by states (4.2%).
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Urban development: Tripura has allocated 4.1% of its expenditure towards urban development. This is higher than the average allocation towards urban development by states (3.4%).
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Energy: Tripura has allocated 2.7% of its total expenditure towards energy, which is lower than the average allocation by states (4.7%).
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Note: 2022-23, 2023-24 (BE), 2023-24 (RE), and 2024-25 (BE) figures are for Tripura.
Sources: Annual Financial Statement, Tripura Budget 2024-25; various state budgets; PRS.
[1] The 31 states include the Union Territories of Delhi, Jammu and Kashmir, and Puducherry .
Annexure 2: Comparison of 2022-23 Budget Estimates and Actuals
The following tables compare the actuals of 2022-23 with budget estimates for that year.
Table 7: Overview of Receipts and Expenditure (in Rs crore)
Particular |
2022-23 BE |
2022-23 Actuals |
% change from BE to Actuals |
Net Receipts (1+2) |
21,048 |
18,361 |
-13% |
1. Revenue Receipts (a+b+c+d) |
21,047 |
18,309 |
-13% |
a. Own Tax Revenue |
2,848 |
3,000 |
5% |
b. Own Non-Tax Revenue |
386 |
402 |
4% |
c. Share in central taxes |
5,782 |
6,724 |
16% |
d. Grants-in-aid from the Centre |
12,032 |
8,183 |
-32% |
2. Non-Debt Capital Receipts |
1 |
52 |
5058% |
3. Borrowings |
3,775 |
877 |
-77% |
Of which GST compensation loan |
220 |
0 |
-100% |
Of which Special Assistance loans from centre |
760 |
350 |
-54% |
Net Expenditure (4+5+6) |
25,870 |
19,873 |
-23% |
4. Revenue Expenditure |
21,607 |
17,739 |
-18% |
5. Capital Outlay |
4,256 |
2,025 |
-52% |
6. Loans and Advances |
6 |
110 |
1621% |
7. Debt Repayment |
1,023 |
992 |
-3% |
Revenue Balance* |
-560 |
570 |
-202% |
Fiscal Deficit |
4,821 |
1,513 |
-69% |
Note: *For revenue balance, positive (+) numbers indicate a surplus and negative (-) numbers indicate a deficit. The fiscal deficit numbers in the table may not match those in the budget as GST compensation loan (only for 2022-23 BE) and Special Assistance for Capital Investment (for 2022-23 BE and Actuals both) have been treated as part of the government’s borrowings while calculating deficits.
Source: Tripura Budget Documents of various years; PRS.
Table 8: Key Components of State's Own Tax Revenue
Tax Source/Head |
2022-23 BE |
2022-23 Actuals |
% change from BE to Actuals |
Taxes and Duties on Electricity |
39 |
36 |
-9% |
Sales Tax/ VAT |
488 |
464 |
-5% |
State GST |
1,426 |
1,459 |
2% |
Stamps Duty and Registration Fees |
95 |
103 |
8% |
Taxes on Vehicles |
108 |
118 |
9% |
State Excise |
322 |
368 |
14% |
Land Revenue |
11 |
13 |
14% |
Source: Tripura Budget Documents of various years; PRS.
Table 9: Allocation towards Key Sectors
Sector |
2022-23 BE |
2022-23 Actuals |
% change from BE to Actuals |
Irrigation and Flood Control |
370 |
132 |
-64% |
Urban Development |
977 |
560 |
-43% |
Welfare of SC, ST, OBC, and Minorities |
928 |
570 |
-39% |
Agriculture and Allied Activities |
1,449 |
990 |
-32% |
Social Welfare and Nutrition |
2,110 |
1,450 |
-31% |
Education, Sports, Arts, and Culture |
3,480 |
2,436 |
-30% |
Health and Family Welfare |
1,482 |
1,130 |
-24% |
Rural Development |
1,313 |
1,031 |
-21% |
Police |
1,959 |
1,599 |
-18% |
Water Supply and Sanitation |
373 |
346 |
-7% |
Energy |
213 |
200 |
-6% |
Transport |
820 |
811 |
-1% |
of which Roads and Bridges |
789 |
778 |
-1% |
Housing |
1,300 |
1,795 |
38% |
Source: Tripura Budget Documents of various years; PRS.
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