Rs. 1000 crore allocated for NEDP
Newmai News Network
AIZAWL | MARCH 15
Mizoram Finance Minister, Lalsawta on Thursday presented a surplus annual budget for the fiscal 2018-2019 amounting to Rs. 9,672.64 crore and supplementary demands for grants for the current year (2017-18) amounting to Rs. 2,286.35 crore.
This is the last budget of Lal Thanhawla led Congress government before the state assembly elections which is due later this year and the second surplus budget presented in a row by the State Finance minister. Last year, Lalsawta had laid tax-free surplus budget of Rs. 8803.10 crore.
Presenting the annual budget and supplementary demands, Lalsawta said the state has made significant progress in terms of economic and the financial condition has improved after observing years of consolidation. The debt to GSDP ratio of the state has declined to 46.22 per cent in 2016-17 and it is anticipated to be further reduced to 40.87 per cent in the 2017-18 fiscal. The fiscal deficit of the state for the year 2018-19 is projected at 1.14 percent of the projected GSDP.
He said that the 2018-19 annual budget is free from deficit and is estimated to have a surplus to the tune of Rs. 428.49 crore.
According to Lalsawta, Rs. 1,000 crore was allocated for New Economic Development Policy (NEDP), which is a comprehensive growth strategy implemented since 2016 to bring about increase productivity in agriculture and allied sectors by providing requisite public infrastructures thereby enabling the farmers to have a sustainable source of livelihood. Rs. 100 crore was earmarked under NEDP for improvement of roads and Rs. 80 crore for improvement of urban infrastructures, he added.
For continuation of New Land Use Policy (NLUP), the flagship programme of the state government, Rs. 80 crore was allocated to provide financial assistance to around 8,000 families. Fund allocation for NLUP programme may be increased depending on requirement, he said.
According to Lalsawta, a new budget head under sports and youth services department was created for doling out grants to outstanding sports personalities and Rs. 30 lakh has been earmarked for the purpose. Similarly, Rs 1 crore was allocated under a separate head of accounts for purchase of arms and ammunition for Police forces under the state home department.
While Rs, 14.82 crore was set aside for to meet the necessary expenses for establishment of Mizoram Institute of Medical Education and Research (MIMER), a total of Rs 10 core was allocated under NEDP for smooth progress of a 60 MW mega solar park at Vankal and grid connected rooftop SPV plant.
“A separate Secretariat has been established under the State Road Fund Board which is expected to bring about improved and innovative methods for better maintenance of state roads. Rs.50 crore has been earmarked for a newly created head called state road fund,” the Finance minister said.
For improvement of Aizawl drainage system, Rs. 20 core has been earmarked and Rs 35 crore and Rs 30 crore each are earmarked for construction of Aizawl city centre and agriculture growth centre, he added.
