Agartala, Jul 25 (PTI) Tripura Chief Minister Manik Saha on Friday said the state has urged the Centre to increase the upper cap of loans under externally aided development projects.
According to existing guidelines, the northeastern state can take a maximum loan amounting to Rs 4,000 crore under externally aided projects in a financial year.
While speaking at a government programme in Kashba in Sepahijala district, the chief minister said that with the state spending a huge amount of money on infrastructure building, the upper limit of loans under externally aided schemes often falls short for undertaking new projects.
"At present, we are allowed to receive loans amounting to Rs 4,000 crore under externally aided projects in a financial year, which is not sufficient for the state. I have already written to the Centre to increase the upper cap of receiving loans to speed up development," he said.
Asserting that tourism can boost the state’s socio-economic condition, the chief minister said the government has increased the annual budget substantially to develop infrastructure as much as possible.
"The state’s budget has increased from Rs 27,000 crore in 2024-25 FY to Rs 32,000 crore during the fiscal 2025-26, and Rs 7,000 crore has been earmarked for capital expenditure. If we spend more on infrastructure, the GSDP will increase," he said.
"Despite being a small state, Sikkim, with a population of 7 lakh, has the highest gross state domestic product (GSDP) among the eight northeastern states, banking on tourism. If we develop tourism-related infrastructures, Tripura can surpass Sikkim," he said.
Currently, Tripura has the second-highest GSDP.Saha said the Tourism department has taken several initiatives to promote the state’s spiritual and eco tourism globally.
"Tata Group is set to convert the iconic Ujjayanta Palace in Agartala into a five-star hotel. Once the project is completed, tourists from foreign nations will visit the northeastern state to see temples, iconic structures and eco tourism sites," he said.
Taking a dig at the erstwhile government, the chief minister said the previous dispensation did not try to develop the royal family’s historic buildings.
"We have begun to restore and develop the royal structures, including the Ujjayanta Palace, to present their creations before the world," he said.