Nagaland CM presents Rs 2679.46 crore deficit budget for 2021-22

Nagaland Chief Minister Neiphiu Rio. (File Photo)

Nagaland Chief Minister Neiphiu Rio. (File Photo)

Morung Express News
Kohima | February 18

Nagaland Chief Minister Neiphiu Rio on February 18 presented the State Budget with the estimated deficit for the current fiscal 2021-22 at Rs 2679.46 crore.

The deficit included current negative balance of Rs 365.33 crore and a negative opening balance of Rs 2314.13 from the previous year. 

Rio, the Minister incharge of Finance, presented the budget at the 7th Session of the 13th Nagaland Legislative Assembly on Thursday. 

The total receipts for the current fiscal is estimated to be Rs 22,245.28 crore while the total expenditures is estimated to be Rs 22816.61, resulting in current negative balance, an euphemism for deficit, of Rs 365.33 crore. 

 “The current transaction is estimated to result in a negative balance of Rs 365.33 crore. However, because of the negative opening balance of Rs 2314.13 crore, the year 20211-22 is estimated to close with a negative opening balance of Rs 2679.46 crore,” Rio stated in his presentation. 

Meanwhile, the Chief Minister highlighted the current and proposed initiatives of the State government including slew of announcement for the newly created Noklak District.    

More details are awaited.