The Tripura government on Monday presented a deficit budget of Rs 149.47 crore and proposed to introduce no new taxes for the fiscal.
Presenting the budget the Finance Minister Badal Chowdhury said, the anticipated growth of state's own tax revenue in 2009-10 has been raised by about 22 per cent, which would be met through improved efficiency in the tax collection mechanism.
The anticipated revenue stands at Rs 5,934.87 crore against anticipated expenditure of Rs 6,084.34 crore.
This year's estimates are higher by Rs 962.73 crore (18.80 per cent) compared to last year's revised estimates.
The deficit would be met through debt consolidation and relief facility under the 12th Finance Commission and through further improved financial management, he said.
Debt stock in terms of GSDP (Gross State Domestic Product) has declined to 38.71 per cent from 45.81 per cent in 2005-06.
No overdraft has been taken in the last ten years and the state government has set up a guarantee redemption fund.
The state's annual growth rate is anticipated as 9.52 per cent, against the anticipated national average rate of 7.1 per cent, Chowdhury said.
Per capita income has increased from from Rs 14,119 in 1999-2000 to Rs 27,777 in 2006-07.