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Tripura expecting Rs 4,802 cr from fiscal stimulus package: CM

Business Finance

Press Trust of India  |  Agartala 

Tripura Chief Minister Biplab

Kumar Deb on Friday said his government is expecting Rs 4,802.88 crore from the Rs 20 lakh crore fiscal stimulus package announced by Centre.

"We have estimated probable benefits from all segments which would be covered under the package and is expecting Rs. 4,802.88 crores under five major heads. We expect to earn nearly Rs 2000 crore only from agriculture and agri-allied sectors", Deb told reporters at the civil secretariat.

Different sectors which would receive stimulus are industries, entrepreneurs, direct support to farmers and rural economy, support to urban poor, agricultural support, upgradation of industrial infrastructure, increased MGNREGA allocation and increase in borrowing limit, he said.

Deb said, "We are expecting to receive major grants from the package in credit support to new kisan credit card holders, liquidity support to farmers, collateral free loans to businesses including MSMEs, payments to DISCOMs, increase in borrowing limit, and upgradation of industrial infrastructure like a forthcoming Special Economic Zone (SEZ) at Sabroom in South Tripura."

Centre has recently sanctioned an SEZ at Sabroom, the southern-most sub-division in South Tripura district bordering Chittagong division of Bangladesh.

"Agriculture sector is our priority. We want to empower peasants in our state and have decided to generate awareness among them how they could benefit from the package. Support to 1.42 lakh farmers having new Kisan Credit Cards is likely to bring a new revolution. It would be our endeavour to ensure beneficiaries get awards", he said.

He said, the Central governments decision to revise labour laws and increase working hours from 12 to 13 hours per day is necessary to revitalize the economy damaged due corona virus induced lockdown for the time being.

"We are not going permanently with the revised labour law. Our tax revenue collection has fallen to 20 per cent in the last three months and share of taxes have fallen by 30 per cent in recent times and we need to revitalize our economy", he said.

Deb said, "Prime Minister Narendra Modi wants to boost industrialization in the North-East. Many companies have started leaving China and we would like to woo some of those investors in our state, especially in fruit processing sector".

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, May 22 2020. 21:35 IST