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Last Updated : Mar 24, 2018 11:22 AM IST | Source: PTI

Nagaland CM Neiphiu Rio presents Rs 1,630.67 cr deficit budget

Nagaland Chief Minister Neiphiu Rio on Friday presented Rs 1,630.67 crore deficit budget for the fiscal 2018-19.

PTI

Nagaland Chief Minister Neiphiu Rio on Friday presented Rs 1,630.67 crore deficit budget for the fiscal 2018-19.

There were no announcements of any new tax and also no new policies for enhancement of the State’s revenue.

Addressing the House during the first budget session of the Nationalist Democratic Progressive Party (NDPP)-led People’s Democratic Alliance government in the State Assembly here, Rio, who also holds the finance portfolio, estimated the gross receipts for the new fiscal at Rs 18,232.51 crore and expenditure at Rs 18305.40 crore.

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The broad item-wise statement of the estimated receipt included: State’s Own Tax and Non-Tax Revenue – Rs 988.01 crore, state’s share in central taxes – Rs 3,777.86 crore, central assistance (grants and loans) – Rs 7,820.86 crore, internal debt – Rs 5,642.87 crore and recovery of loans and advances – Rs 2.91 crore.

The expenditure heads are non-development expenditure (excluding servicing of debt) – Rs 7,841.42 crore, service of debt – Rs 5,911.62 crore and plan expenditure – Rs 4,552.36 crore.

Rio, said this would result in a deficit of Rs 72.89 crore but deduction of public account of Rs 49.95 crore, which is kept for payment of GPF and pension to the government employees, the deficit for 2018-19 is expected to result in negative balance of Rs 22.94 crore.

However, with the negative opening balance of Rs 1,607.73 crore, the year will close with a deficit of Rs 1,630.67 crore, he said.

Saying that that there are several developmental activities to be taken up, Rio said due to resource constraints, the government has set aside Rs 580 crore including negotiated loan of Rs 100 crore to be allocated to various departments for taking up development works and other welfare schems.
First Published on Mar 24, 2018 11:20 am
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