Manipur’s GSDP doubled under BJP-led coalition government: CM

Manipur’s GSDP doubled under BJP-led coalition government: CM
N Biren Singh
Correspondent IMPHAL, Sep 21 | Publish Date: 9/21/2019 11:19:12 AM IST

Manipur chief minister N Biren Singh claimed on Saturday that the growth rate of Gross State Domestic Product (GSDP) has increased doubled since the BJP-led coalition government came to power in the state two and a half year ago.

He claimed that the GSDP has increased from 4% in 2016-17 to 8% in 2018-19.  Addressing a press conference in his secretariat today, Singh further claimed that the state owned tax revenue collection has steeply increased from 587 crore in 2016-17 to above 1000 crore in 2018-19. 

“These show that with under the present government there is economic growth in the state,” he said.  Such pace of development and growth would transform Manipur into an advanced state in near future, he hoped, and claimed that the government could achieve such result with the love, support and co-operation of the people of the state. 

“Once a bandh, blockade stricken region has been completely transformed to a region of economic growth,” he added. 

Following mark improvement in the law and order front, the chief minister maintained that the influx of foreign tourists has been drastically increased from 500-600 tourists per year in 2015-16 to above 1000 tourists per month these days.

Further briefing on his government’s new plans, the chief minister said that the government was planning to legalise Cannabis solely for the medicinal and industrial purposes. The state would discuss the matter in the next cabinet meeting, he said, and added that other states like Arunachal Pradesh, Uttar Pradesh and Uttarakhand had already legalised Cannabis cultivation for medicinal purposes.

He announced launching of a new mission of hid government saying that under the ‘Start-up Manipur’ scheme, a new program called ‘Stand-up Manipur’ would be introduced to provide soft loans to entrepreneurs belonging to SC, ST, OBC, minority. 

A facilitation cell would be established for enabling SC/ST/OBC/minority entrepreneurs to provide information and assist entrepreneurs belonging to weaker sections for availing the projects under various schemes of government of India, he added.

The chief minister lauded the Union finance minister Nirmala Sitharaman on corporation tax rate cuts terming it as a historic step taken by Narendra Modi led government at the Centre.

He said that all domestic companies would be allowed to pay corporation tax at the rate of 22% which was earlier 30% following the tax cut. Any new domestic manufacturing company, incorporated on or after October 1, 2019, will be allowed to pay corporation tax at the rate of 15%, he added. 

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