Kohima, 27 March (MTNews): Nagaland Chief Minister Neiphiu Rio today presented a deficit budget of 1,374.17 crore rupees for the financial year 2023-24 during the first budget session of the 14th Nagaland Legislative Assembly.


Chief Minister and minister in-charge of Finance, Neiphiu Rio presenting the budget for 2023-24 on 27 March. (DIPR photo)


Rio, who also holds the finance portfolio, put forth the budget proposals estimating a gross receipts of Rs 23,145.66 crore rupees and gross expenditure at Rs. 23,085.66 crore rupees.
He said since the transactions for the current year 2022-23 are estimated to result in a negative balance of Rs. 40 crore, the year 2023-24 is estimated to close with an accumulated deficit of Rs 1,374.17 crore.


However, he added that the closing accumulated deficit has reduced substantially from the estimated closing amount of Rs. 2,212.74 crore in Budget Estimates to Rs. 1,334.17 crore in the Revised Estimates.


Presenting the budget, Rio termed the 2023-24 budget a “balanced budget” and stated that the State Government has been taking measures to improve the financial position of the Government.


The Chief Minister said there has been improvement in the financial position of the State Government and hoped that it will continue to improve and said that over the 5-year period from the year 2020-21 up to 2025-26, the Revenue Deficit Grant will reduce by an amount of Rs. 910 crore.


Stating that the State Government aims to take Nagaland towards ‘A State of Excellence,’ he urged citizens to strive to excel in their chosen fields and careers and therefore, push ‘Brand Nagaland’ and popularize ‘Naga soft power.’


The Chief Minister also noted that the on-going dialogue of the Naga political issue has been successful. He also said that his government will play the role of active facilitators and make every possible effort to contribute to take the political dialogue in the desired direction.


Regarding the demand of the Eastern Nagaland Peoples’ Organization for a separate State, he acknowledged the developmental deficits and economic challenges of the Eastern Region but stated that the State Government will stand for unity of the Naga people at all cost. Admitting that all-round development in the Eastern region has been neglected in the last 60 years, Nagaland Chief Minister Neiphiu Rio, stated that the state government has already recommended the formation of an autonomous region for the people of eastern Nagaland.


Rio also introduced some Government plans and schemes to be incorporated in the area of capacity building in the coming fiscal such as: Scholarship for sponsoring doctors for further specialized education; Exposure trips and study tour for progressive farmers; Capacity building to promote indigenous products and entrepreneurs; Scholarships and awards in the field of sports and games; Capacity building and Chief Minister’s Scholarships on music, arts and performing arts; Capacity building and training for meat and dairy production; Training centers and coaching institutes for students aspiring for civil services and common entrance exams; Sponsoring for courses in institutions within and outside the state for specialized studies; and Introduction of Chief Minister’s Journalism and Media Fellowship and study tour-cum-seminars for press and media fraternity.

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