Zoramthanga Present Rs 14,209 crore state budget for 2023-24

Aizawl, 13 Feb (Zoram News): Mizoram Chief Minister Pu Zoramthanga, who also holds finance portfolio, presented the state annual budget for 2023-2024 amounting to Rs 14,209.95 crore sans new proposals for taxes and increase in tax rates on February 13.

Mizoram Chief Minister Zoramthanga, who also holds finance portfolio, presented the state annual budget for 2023-2024 amounting to Rs 14,209.95 crore sans new proposals for taxes and increase in tax rates on February 13.
Pu Zoramthanga also presented the Supplementary Demand for Grants for the current fiscal (2022-23) amounting to Rs 3,265.69 crore along with the budget.

He said that the state’s annual budget is neither a deficit budget nor a surplus one.

Covid-19 pandemic adversely affected the state economy and the state government was fighting for survival rather than taking up developmental activities in a big way, he said.

He said that the state government did not receive over Rs 3,000 crore, which it expected to receive from the centre, due to the pandemic-induced fiscal problems as the receipt of GST drastically decreased.

Of the Rs 14,209.95 crore budget, Rs 11,068.79 crore was allocated under revenue expenditure (establishment costs), which is a whopping 78.10 percent of the total budget allocation, while a meagre amount of Rs 3,141.19 crore was allotted for capital expenditure (developmental activities), which is 21.90 percent of the total budget.

Zoramthanga explained that the decrease in the estimated capital expenditure was due to the absence of Rs 600 crore allocated during the current financial year under PM-devINE.

He also said that while the state government has been expecting at least Rs 500 crore under the Special Assistance to States for Capital Investment (SASCI), Rs 200 crore has been allocated in the budget due to an absence of information from the centre.

“I have allocated Rs 60 crore for the healthcare scheme, of which Rs 10 crore would be raised from the state lottery,” he said.

The chief minister allocated Rs 595 crore under the state government’s flagship program, the Socio-Economic Development Policy (SEDP), of which Rs 300 crore was earmarked for a family-oriented scheme under the policy.

He also allocated Rs 60 crore as the MLA local area development fund, to be availed of equally by the 40 legislators for the execution of developmental works in their respective constituencies.

An amount to the tune of Rs 128 lakh was allotted for the establishment costs of the proposed Lunglei Municipal Corporation in the headquarters of south Mizoram’s Lunglei district.

The state art and culture department’s budget included Rs 50 lakh for assistance to non-governmental organizations.

He also allocated Rs 157.90 crore for direct subsidy under the state power and electricity department so that the people can avail electricity at a lower cost.

After presenting the budget, he told reporters that the state government would be unable to pay the increased dearness allowance received by central government employees, adding that such a move would cripple the state’s finances and create an acute financial crisis for the state.

Budget Speech of Pu Zoramthanga Hon'ble Chief Minister & Finance Minister for 2023 - 24


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