Zoramthanga
Mizoram Chief Minister Zoramthanga (File image)

Mizoram chief minister Zoramthanga on Wednesday presented a surplus annual  Budget for the fiscal 2020-2021 amounting to Rs. 10,081.01 crore.

The budget laid special emphasis on implementation of government’s flagship programme – Socio-Economic Development Policy (SEDP).

He also presented supplementary demands for grants for the fiscal 2019-2020 amounting to Rs 3,393.13 crore.

Presenting the annual Budget and supplementary demands, Zoramthanga, who also holds Finance portfolio, said he was not in a position to present most desirable budget as 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 and that the Centre reduced budgetary transfer by a considerable amount.

Also read: Mizoram registers 13.04 per cent growth in GSDP

He said the 2020-2021 annual Budget is estimated to have a revenue surplus to the tune of Rs 763.11 crore, which will create some space for capital investment.

Stating that the State has witnessed significance progress in terms of economic and social, the chief minister said that there was a big jump in the State’s revenue projection for the 2020-2021 fiscal at an increasing rate of 27.97 per cent from the previous year’s estimate.

The total revenue realized till December last year was Rs 836.39 core, which was 83.16 per cent of the total revenue projection for the fiscal 2019-20.

“I am confident that the remaining 16.84 per cent will be achieved comfortably during the last quarter of 2019-20,” Zoramthanga said.

State’s own revenue is estimated to stand at 12.72 per cent of the total revenue receipt and 3.9 per cent of GSDP.

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 per cent against the fiscal 2019-20.

While the total revenue expenditure is estimated to stand at 84.20 per cent of the total budget estimate, capital expenditure is project at 15.80 per cent of the total estimated expenditure.

The government also expected Rs 1,968 crore grant from the 15th finance commission and Rs 2,033.39 crore as centrally sponsored schemes during the fiscal 2020-21.

According to Zoramthanga, the government laid emphasis on implementation of  SEDP for which Rs 513 has been allocated for the fiscal 2020-21.

The government gives priority to health care and set aside Rs 20 crore under SEDP for implementation of state health care scheme while Rs five crore is proposed for rehabilitation of youths affected by alcohol and drug abuse under SEDP.

Under the SEDP, Zoramthanga also set aside Rs 135 crore for priority projects, Rs 80 crore for road maintenance, Rs 50 crore for ongoing projects, Rs 200 core for counterpart funding, Rs 10 crore for facilitating requirements of Zoram Medical College (ZMC)  and Rs eight 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.

Zoramthanga also allocated Rs five crore for rehabilitation and settlement of the displaced victims of insurgency during 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.

Speaking to reporters after presenting the annual budget, Zoramthanga said the SEDP would be implemented basically on project based unlike the Congress’s New Land Use Policy (NLUP), which was ‘money distribution’ oriented.

“The state government will make detailed project reports as much as possible to avail huge financial assistance from the Centre under the SEDP,” he said.

He said that the State Government will take austerity measure to avoid unnecessary expenditures at various levels.

In one of the initiatives in this regard, the government has implemented vehicles outsourcing policy to reduce expenses towards purchase and maintenance of government vehicles.

He added that his government would focus on privatization, mechanization and large-scale production to boost the State’s economy.

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 per cent and total estimated liabilities was Rs 8,701.26crore which is 27.85 per cent of the projected GSDP.