Itanagar: Without imposing any fresh tax, Arunachal Pradesh Finance minister Kalikho Pul Thursday presented a surplus state budget for 2008-09 with a much enhanced plan size of Rs2,065 crore, made possible due to the recent package announced by the prime minister and an impressive growth in revenue collections.
Pul told newsmen the state had achieved prudent debt management and reduced fiscal deficit by bringing under control non-plan expenditure and putting in place fiscal responsibility and budget management act 2006, in the last few years.
“As a result of fiscal discipline, we have been rewarded with relief on payment of interest and principal on our borrowings,” he said.
The financial year 2005-06 and 2006-07 opened with negative balances of Rs303.54 crore and Rs56.92 crore when the curent financial year opened with a positive balance of Rs18.28 crore, he said.
“More importantly we have not gone for any wage and means advances nor for an overdraft even for a single day during the current financial year and our financial position is now comfortable with a cash balance of Rs781 crore”, he said.