KOHIMA: The Chief Minister of Nagaland introduced the tabled the state budget for the upcoming fiscal year on Monday. He also holds the portfolio for the finance department of the state government.
Neiphiu Rio, the reelected head of the state tabled a Rs 1374.16 cr deficit budget for the upcoming 2023-24 financial year. He mentioned that the estimated gross receipt stands at Rs 23145.66 Cr while the gross expenditure for the year stands at Rs 23085.66 giving a positive balance of about Rs 60 cr. But the current transactions will close at a negative balance of Rs 40 cr.
The chief minister mentioned that the state had seen an increase in the revenues under the share of both Central taxes and duties as well as the state’s revenue. He also added that the state of Nagaland had been able to discharge a substantial amount of liabilities in the form of central sponsored schemes backlog and civil deposits.
He also mentioned the need for more resources in the state in order to improve the infrastructure of the state. However, the proposal of not raising any new taxes was announced as a part of the new budget.
The chief minister also mentioned allowing the sale of alcohol to foreign nationals coming to the state adding that it will be done within the ambit of the Nagaland Liquor Total Prohibition Act of 1989. It allows the sale of liquor to foreign nationals at select star-category hotels of the state.
The chief minister called the state budget for 2023-24 a balanced budget and mentioned that it targeted the development of agri and allied industries, micro farmers and entrepreneurs of the state. Also, he advised all departments of his government to make the best possible use of resources and to avoid all wasteful expenditures.
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