Kohima: Nagaland Chief Minister Neiphiu Rio on Tuesday presented the budget for the financial year 2024-2025 on the second day of the ongoing fourth session of the 14th Nagaland Legislative Assembly. Rio, who also holds the finance portfolio, said gross receipts are estimated at Rs 23,978 crore and the gross expenditures are pegged at Rs 23,727 crore.

The new budget estimate is an increase of Rs 644.22 crore compared to the previous financial year where the amount was at Rs 23,083.66 crore.

The agri and allied sector has been provided a total outlay of Rs 4190.20 lakh for various core activities.

The agriculture department has been allocated Rs 1100 lakh for community agri farm roads, promotion of indigenous crops, and developmental activities.

The horticulture sector has been allocated Rs 480 lakh for a pilot project of packaging and labeling and upgrading the existing tissue culture unit at the state horticulture nursery. 

The soil and water conservation sector has been allocated Rs 275 lakh for mechanized development and core activities and the construction of a guest house.

The animal husbandry and veterinary sector has been provided Rs 440 lakh for setting up veterinary dispensaries in the new districts of Chümoukedima, Niuland, and Shamator, and for procurement of equipment and appliances for veterinary hospitals.

The water resources sector has been provided Rs. 250 lakh for the creation of water bodies and core activities.

The fisheries sector has been allocated Rs 300 lakh for the development of cluster-based fisheries and farmers' producers organizations, fisheries-based eco-tourism, and the development of hatcheries and buildings.

The forest and wildlife sector has been allocated Rs 375 lakh for plantation activities and the construction of quarters.

The budget, which prioritizes infrastructure development, investment promotion, entrepreneurship development, and local economic rejuvenation, also introduced a new welfare measure - the Chief Minister's Universal Life Insurance Scheme - to be fully funded by the state. 

As per an official release, it is designed to mitigate the profound impact that the untimely death of a family's breadwinner can have on the education, health, and socio-economic development of the family. The scheme will provide life insurance coverage for the breadwinner of the family and accidental insurance coverage for three other members of every family in the state.

On oil and natural gas, Rio stated that exploration will take 4-5 years and will be undertaken at a huge cost. However, he also mentioned that the federal government will assist with the exploration.

Rio has described the budget as "people-centric" due to the inclusion of many new initiatives for the "welfare of the people."

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