Tripura GSDP is higher than national growth: Finance Minister

Tripura’s GSDP (Gross State Domestic Product) growth rate is higher than the national average.

The state’s GSDP growth rate is 8.80 percent in FY 2022-23, which is expected to increase to 8-9.5 % in 2023-24.

Finance Minister Pranajit Singha Roy said this in a press conference organized at the press corner of the State Legislative Assembly on Monday.

He said that the country’s GDP growth rate in 2022-23 fiscal year is 7%. The Finance Minister also said that a vote on account of Rs. 9066.56 crore was presented in the state assembly on March 24 for the first four months of the financial year 2023-24..

He said that after the current government came to power, the vote on account had to be presented, as there was not much time to prepare a complete budget.

He added that while creating vote on account, special attention has been paid to the overall development of the state to avoid any financial problems.

FM Roy further said that the demand for additional expenditure allocation of Rs. 3065.37 crore for the financial year 2022-23 has been presented in the state assembly on March 24 during the vote on account.

He said that the tax revenue of the state is expected to increase by 14.67% in 2022-23 and generate around Rs 3,000 crore.

Finance Minister Pranajit Singha Roy said that the capital expenditure in the road sector was Rs 443.00 crore in the financial year 2021-22, which is expected to increase to Rs. 647.00 crore in 2022-23.

It is estimated that the expenditure in this field will increase by 4.6% compared to the financial year 2021-22.