Aizawl, Feb. 19 (PTI): Mizoram Chief Minister Zoramthanga on Thursday presented a INR 10,081 crore budget for the ficsal 2020-21 in the state Assembly, focusing on the implementation of the government’s socio-economic development programmes.
He said the state budget for the next fiscal is “free from deficit and estimated to have a revenue surplus of INR 763.11 crore in spite of limited resources”.
This is the second full budget of the Mizo National Front (MNF) government after it came to power in December 2018.
He said the state government laid emphasis on the implementation of Socio-Economic Development Policy (SEDP) with an allocation of INR 513 crore for FY21.
According to the chief minister, the northeastern state has witnessed “significance progress” in terms of economic and social parameters.
Presenting the annual budget and supplementary demands in the House, he said the government gives priority to health care and has set aside INR 20 crore under SEDP for the purpose, adding that INR 50 crore has been earmarked for the ongoing projects under the flagship scheme.
He said INR 451 crore has been allocated for three autonomous district councils in the state and INR 785.83 lakh for Sinlung Hills Council (SHC) and Sialkal Range Development Council.
Zoramthanga, who also holds the finance portfolio, said Mizoram’s share of the grants from the central government has been reduced considerably after devolution of taxes from the Centre to states.
The total revenue, realised till December of the 2019 -20 fiscal, was INR 836.39 core, which was 83.16 per cent of the total projection for the financial year.
The Gross State Domestic Product(GSDP) for the fiscal 2020-21 is projected at INR 31,240.56 crore at current price and total estimated liabilities are at INR 8,701.26 crore which is 27.85 per cent of the estimated GSDP.
State’s own revenue is estimated at 12.72 per cent of the total revenue receipt and 3.9 per cent of GSDP.
The aggregate of the estimated amount of state’s own tax and non-tax revenue for FY21 is INR 1,244 crore with a growth of 20.5 per cent compared to the last fiscal.
Speaking to reporters after presenting the annual budget, Zoramthanga said the state government will make detailed project reports to avail financial assistance from the Centre under the SEDP.
The state government will take austerity measure to cut unnecessary expenditures at various levels and has already implemented vehicles outsourcing policy to reduce expenses towards purchase and maintenance of vehicles, he said.
The government will focus on privatisation, mechanisation and large-scale production to boost the state’s economy, he added.