Our Correspondent
Kohima | March 15
Nagaland Chief Minister Neiphiu Rio, who also holds the finance portfolio, today presented the state Budget for 2012-13 with the assurance that the State’s finances have been stable despite the adverse awards of the 13th Finance Commission. “Let me assure this august House that our finances are in good hands and have remained stable since we took over the reins of the Government”, he said while asserting that the repeated attempts of some vested interests to spread panic and fear in the minds of the people by raising the spectre of the possible collapse of the state’s finances have been belied.
Presenting Budget 2012-13, Rio said the current transactions of the coming year 2012-2013 is estimated to result in a negative balance of Rs.10.07 crore. However, because of the estimated negative opening balance of Rs.685.52 crore, the year 2012-13 is estimated to close with a negative balance of Rs.695.59 crore. As per the budget proposals for the year 2012-13, he said the gross receipt is estimated at Rs.7859.41 and the gross expenditure at Rs.7858.26 crore for the financial year 2012-13.
Presenting a broad item-wise statement on the estimated gross receipts and gross expenditures, he said the state’s own tax and non-tax revenue is estimated at Rs.493.80 crore; state’s share of central taxes at 865.55 crore; central assistance (grants and loans) at 5171 crore; internal debt (including W&M advance from RBI) at 1325.08; recovery of loans and advances by state government at 3.82 crore, bringing the total to 7859.41 crore.
As for expenditures, he put the estimate of non-plan expenditure (excluding servicing of debt) at Rs.3832.53 crore; Servicing of debt (including W&M advance from RBI) at Rs.1400.80; State Plan expenditure at Rs.2000 crore; Schemes under NLCPR at Rs. 164.68 crore; CSS and NEC sponsored schemes at Rs.460.25 crore, bringing the total to Rs. 7858.26 crore. The statement also projected an estimated public account (net) at - 11.22 and current transactions at -10.07.
Rio’s budget statement also proposed no new taxes for the current year and says that the government will continue to strive for better realisation of revenues at existing rates. On internal revenue collection, he said he has put the target at Rs.494 crore against the BE target of Rs.442 crore, representing a growth of 12%.
.jpg)
.jpg)
