Zoramthanga presents surplus budget in Mizoram
The excess amounted to Rs 10,081.01 crore; supplementary demands for grants amounting to Rs 3,393.13 crore were also presented
- Published 20.02.20, 12:28 AM
- Updated 20.02.20, 12:28 AM
- 2 mins read
Mizoram chief minister Zoramthanga on Wednesday presented a surplus annual budget for the fiscal 2020-2021 amounting to Rs 10,081.01 crore with special emphasis on implementation of the government’s flagship programme Socio Economic Development Policy (SEDP).
He also presented supplementary demands for grants for the fiscal 2019-2020 amounting to Rs 3,393.13 crore.
Presenting the annual budget and supplementary demands, Zoramthanga, who also holds the finance portfolio, said he was not in a position to present the most desirable budget as the state’s share in post-devolution revenue deficit grant was considerably reduced after the 15th Finance Commission recommended 14 states to get similar benefit of the grant. Moreover, he Centre has reduced budgetary transfer by a considerable amount.
He said the 2020-2021 annual budget was estimated to have a revenue surplus to the tune of Rs 763.11 crore which will create some space for capital investment.
Stating that the state had witnessed significance progress in terms of economic and social progress, the chief minister said there was a big jump in the state’s revenue projection for the 2020-2021 fiscal at an increasing rate of 27.97 per cent from the previous year’s estimate.
The total revenue realised till December last year was Rs 836.39 core which was 83.16 per cent of the total revenue projection for the fiscal 2019-20.
“I am confident that the remaining 16.84 per cent will be achieved comfortably during the last quarter of 2019-20,” Zoramthanga said.
The state’s own revenue is estimated to stand at 12.72 per cent of the total revenue receipt and 3.9 per cent of the Gross State Domestic Product (GSDP).
The aggregate estimated amount of the state’s own tax and non-tax revenue for the fiscal 2020-21 is Rs 1,244 crore at an estimate growth of 20.5 per cent against the fiscal 2019-20.
While the total revenue expenditure is estimated to stand at 84.20 per cent of the total budget estimate, capital expenditure is projected at 15.80 per cent of the total estimated expenditure.
The government also expected Rs 1,968 crore grant from the 15th Finance Commission and Rs 2,033.39 crore as centrally-sponsored sche-mes during the fiscal 2020-21.
According to Zoramthanga, the government laid emphasis on implementation of the SEDP for which Rs 513 crore had been allocated for the fiscal 2020-21.
The government gives priority to healthcare and set aside Rs 20 crore under the SEDP for implementation of state healthcare scheme while Rs 5 crore is proposed for rehabilitation of youths affected by alcohol and drug abuse.
Under the SEDP, Zoramthanga also set aside Rs 135 crore for priority projects, Rs 80 crore for road maintenance, Rs 50 crore for ongoing projects, Rs 200 core for counterpart funding, Rs 10 crore for facilitating requirements of Zoram Medical College (ZMC) and Rs 8 crore for youth service and sports promotion.
A sum of Rs 451 crore has been earmarked for three autonomous district councils in the state and Rs 785.83 lakh for Sinlung Hills Council (SHC) and Sialkal Range Development Council.
Zoramthanga also allocated Rs 5 crore for rehabilitation and settlement of the displaced victims of insurgency during secessionist movement, Rs 10 crore for continuation of vehicle parking house support scheme (PAHOSS), Rs 93 core and Rs 45 core for rural local body grants and urban local body grants respectively.