Nagaland CM tables Rs 1374-cr deficit budget

BNE News Desk

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Kohima: The Chief Minister of Nagaland Neiphu Rio tabled the state budget for the upcoming fiscal year on March 27. Neiphu Rio also hold the portfolio of the Finance Department of the state government.

The current CM tabled Rs. 1374.16 crores deficit budget 2024 for the financial year 2023-2024.

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 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.

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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BNE News Desk