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Tax-free deficit Budget in Mizoram

By The Assam Tribune
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AIZAWL, Nov 11 (PTI) � Mizoram Finance Minister Lalsawta today presented a tax-free deficit Budget amounting to Rs 6,770.79 crore for the current fiscal.

Lalsawta explained that he could not present the full Budget during the Budget Session in March and was compelled to seek vote-on-account for two times for a period of eight months due to late finalisation of the State Annual Plan Outlay for 2014-15.

The Budget, presented in the State Assembly, has provisioned Rs 3,140 crore under Plan outlay and Rs 3,630.79 crore under Non-Plan expenditure.

The fund is expected to be received under Non-Lapsable Central Pool of Resources (NLCPR), Centrally Sponsored Scheme (CSS) and North Eastern Council (NEC), now allocated in the Plan fund since the past one year.

The closing deficit for the current financial year was estimated at Rs 608.39 crore as against the opening deficit of Rs 357.18 crore. He did not announce any new tax.

In his Budget speech, Lalsawta spoke about the acute financial difficulties being faced by the State and stressed on the importance of following strict austerity measures.

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Tax-free deficit Budget in Mizoram

AIZAWL, Nov 11 (PTI) � Mizoram Finance Minister Lalsawta today presented a tax-free deficit Budget amounting to Rs 6,770.79 crore for the current fiscal.

Lalsawta explained that he could not present the full Budget during the Budget Session in March and was compelled to seek vote-on-account for two times for a period of eight months due to late finalisation of the State Annual Plan Outlay for 2014-15.

The Budget, presented in the State Assembly, has provisioned Rs 3,140 crore under Plan outlay and Rs 3,630.79 crore under Non-Plan expenditure.

The fund is expected to be received under Non-Lapsable Central Pool of Resources (NLCPR), Centrally Sponsored Scheme (CSS) and North Eastern Council (NEC), now allocated in the Plan fund since the past one year.

The closing deficit for the current financial year was estimated at Rs 608.39 crore as against the opening deficit of Rs 357.18 crore. He did not announce any new tax.

In his Budget speech, Lalsawta spoke about the acute financial difficulties being faced by the State and stressed on the importance of following strict austerity measures.

More in Entertainment
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