CM presents Rs 763.11 crore revenue surplus budget in Mizoram

Aizawl, February 19 (NNN): Mizoram Chief Minister Zoramthanga on Wednesday presented the annual budget for 2020-2021 amounting to Rs. 10,081.01 crore with special emphasis on implementation of the government’s flagship Socio-Economic Development Policy (SEDP).

The budget is estimated to have a revenue surplus of Rs 763.11 crore, which will create some space for capital investment, he said.  He also presented supplementary demands for grants for the fiscal 2019-2020 amounting to Rs 3,393.13 crore.

Presenting the annual budget, Zoramthanga said 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.

The CM said that there was a big jump in the state’s revenue projection for 2020-2021 at an increasing rate of 27.97% from the previous year’s estimate. The total revenue realized till December last year was Rs 836.39 crore, which was 83.16% of the total revenue projection for the fiscal 2019-20. “I am confident that the remaining 16.84% will be achieved comfortably during the last quarter of 2019-20,” he said. 

The State’s own revenue is estimated to stand at 12.72% of the total revenue receipt. The aggregate estimated amount of 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% over last fiscal. The total revenue expenditure is estimated to stand at 84.20% and capital expenditure at 15.80% of the total estimated expenditure.

According to Zoramthanga, the government had laid emphasis on implementation of SEDP for which Rs 513 crore has been allocated for current fiscal. It also set aside Rs 20 crore under SEDP for implementation of state health care scheme while Rs 5 crore is proposed for rehabilitation of youths affected by alcohol and drug abuse.

Under the SEDP, Rs 135 crore is for priority projects, Rs 80 crore for road maintenance, Rs 50 crore for ongoing projects, Rs 200 crore for counterpart funding, Rs 10 crore for facilitating requirements of Zoram Medical College (ZMC),  and Rs 8 crore for youth service and sports promotion.

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.

It also allocated Rs 5 crore for rehabilitation and settlement of the displaced victims of insurgency during the 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.

Meanwhile, the Gross State Domestic Product (GSDP) for the fiscal 2020-21 was projected to be Rs 31,240.56 crore at current price at a growth rate of 17.61% and total estimated liabilities was Rs 8,701.26 crore which is 27.85% of the projected GSDP.