
28/03/2023
CM Rio presents Rs 1,374 crore deficit budget
Nagaland chief minister Neiphiu Rio, who also holds the finance portfolio, presented Rs 1374.17 crore deficit budget for the year 2023-2024 in the Nagaland assembly on March 27.
In the first budget of the 14th Nagaland Legislative Assembly, Rio allocated Rs 82,000 lakh for the annual development outlay, an increase of Rs 4,500 lakh or 5.49 per cent over the current financial year. Out of this, Rs 25,000 lakh has been earmarked for the state matching share for CSS programmes to ensure the release of funds by the central government.
Rio said for fiscal 2023-24, the gross revenue receipts stood at Rs 23,145.66 crore and the gross expenditure at Rs 23,085.66 crore. The closing accumulated deficit has reduced substantially from the estimated closing amount of Rs 2,212.74 crore in budget estimates to Rs 1,334.17 crore in the revised estimates, he said.
He added that since the current year's transactions are estimated to result in a negative balance of Rs 40 crore, the year 2023-24 is estimated to close with an accumulated deficit of Rs 1,374.17 crore.