Our Correspondent
Kohima | March 28
The Fifteenth Finance Commission is expected to visit Nagaland within the next few months.
Chief Minister Neiphiu Rio, who also holds the Finance portfolio, said this in his budget speech at the recently concluded first session of the 13th Nagaland Legislative Assembly here.
He said the Fourteenth Finance Commission period is ending in two years’ time and the Government of India has already constituted the Fifteenth Finance Commission.
Rio said the state finance department has been geared up in preparation of various requisite documents as well as a memorandum to be submitted to the Commission. “We will showcase the various issues and specific needs of the state,” he said.
Rio acknowledged that the award of the Fourteenth Finance commission was better than that of Thirteenth Finance Commission, saying that it was just sufficient to meet “our revenue expenditure requirements leaving insufficient resources for development requirements, not to speak of clearing the liabilities created during the Thirteenth Finance Commission period.”
Rio said due to the adverse award of the Thirteenth Finance Commission, the state of Nagaland had a huge budgetary deficit of Rs. 1419.35 crores as on March 31, 2015. Further, during this period the central government did not fully release the state specific grants amounting to Rs. 92.50 crores, although the works were completed, thus creating liabilities.
Also, funds for 40 projects which were approved by the erstwhile Planning Commission under Special Plan Assistance could not be fully released due to discontinuation of the Planning Commission.
“My government will endeavor to seek from the Government of India for release of Rs. 863.95 crores, which is the amount pending under SPA,” Rio said.
Stating that at the close of the Thirteenth Finance Commission, the total budgetary deficit stood at Rs. 1419.35 crores and a total liability of Rs. 956.45 crores totaling to Rs. 2375. 80 crores, he said “With this size of accumulated deficit, our government has been facing an uphill task of fulfilling the development requirements of the state.”
