Agartala: Tripura Chief Minister Manik Saha has announced that the state government has approached the Centre to lift the cap on borrowing, citing the need to undertake big projects. The Centre has allowed Rs 4,000 crore borrowing for Tripura over the next three years as part of prudent fiscal management.
The state’s budget for the current fiscal (2024-25) stands at Rs 27,800 crore, with only Rs 10,000 crore remaining after non-plan expenditures such as salaries, pensions, loans, and interest on loans. Of this amount, 25% will be allocated to the Tripura Tribal Areas Autonomous District Council (TTAADCA) and 10% to urban local bodies.
Saha emphasized the need to lift the borrowing cap, stating that the state is poised to take up significant projects with investors setting up businesses in the region. The state government has already sought the Centre’s approval to withdraw the borrowing cap.
In a recent investors’ meet in Agartala, 87 Memoranda of Understanding (MoUs) valued at Rs 3,700 crore were signed, highlighting the state’s potential for growth. Saha also stressed the importance of promoting tourism, leveraging the state’s natural beauty, adventure opportunities, and religious tourism, including the renowned Tripureswari temple.
To ensure effective delivery of development projects, Saha instructed officials to maintain daily monitoring of development works, focusing on grassroots-level implementation.
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