MIZORAM PRESENTS SURPLUS BUDGET

Mizoram Finance Minister Lalsawta presented a surplus budget for the 2018-19 fiscal amounting to Rs 9,492.38 crore. He also placed supplementary demands for grants for the current year (2017-18) amounting to Rs 2,286.35 crore in the state legislature. Lalsawta, while presenting the annual budget and the supplementary demand, said that financial condition of the state has improved after years of consolidation and the 2018-19 budget was free from deficit. Rather, it has a surplus to the tune of Rs 428.49 crore. He said that he allocated Rs 1,000 crore under the New Economic Development Scheme (NEDP) in the budget, elaborating that the New Economic Development Policy (NEDP) of the state government was formulated to promote transition from subsistence economy to market economy.

He said that Rs 80 crore was allocated for continuation of the New Land Use Policy (NLUP), the flagship programme of the present government to provide financial assistance to around 8,000 families, enabling the beneficiaries to have a sustainable source of livelihood. He said that the debt to Gross State Domestic Product (GSDP) of the state has declined from 54.46 per cent during 2016-17 to 40.87 per cent for 2017-18. The finance minister also said that Rs 40 crore was allocated under the Members of Legislative Assembly Local Area Development Scheme for 40 legislators. Break up of the proposed expenditure in the budget was 34.59 per cent for salaries and wages of the government employees, 9.30 per cent for pension, 1.07 per cent for medical treatment and 1.38 per cent for establishment cost.

The proposed expenditure on major works was 20.13 per cent and 2.12 per cent under minor works, he said. New provisions in the budget included allocation of Rs one crore under a separate head of accounts for purchase of arms and ammunition for police forces under the state home department and Rs 30 lakh set aside under a new budget head under the state Sports and Youth Services department for doling out grants to outstanding sports personalities of the state.