Kohima, 28 March (MTNews): Finance Department, in a release, has referred to the news articles appearing in the local dailies relating to the closing budget deficit wherein a deficit of Rs 1374.17 crore for the financial year 2023-24 was reported. The Department has clarified that this is the accumulated deficit. It was clarified that, for the year 2023-24, for which the budget was presented by the Chief Minister, the deficit is Rs. 40 crore.
Further, due to the releases of CSS backlog and Civil Deposits during 2022-23, the accumulated deficit has been reduced from Rs 2212.74 crore to Rs 1334.17 crore. This represents a huge reduction of deficit by Rs 878.57 crore, it was stated.