Economy / Mizoram

Silchar, June 21: Known to be inveterate tea drinkers, Mizos are fittingly reaping the benefits of a tea revolution in their tiny state. As many as 343 small plantations sprouted in Mizoram during the past decade, and have now begun producing leaf which experts believe can be processed into high-quality tea.

P.K. Barua, assistant director at the Tea Board’s regional office in Silchar, said Mizoram CTC had the potential to be a blend of the Darjeeling and Assam varieties. “Such a blend of flavour and liquor could give Mizoram CTC a unique position in markets around the world.”

The nascent...

AIZAWL, June 4 – The Mizoram Government on Thursday submitted to the visiting members of the 12th Finance Commission a number of proposals to tide over financial problems which included sufficient funds to cover the revenue deficit in the form of revenue deficit gap grant and share in taxes, reports PTI.

The State Government, which is almost totally Centrally funded, urged the Finance Commission to raise divisible share of the states in all Union taxes and duties from 29.5 per cent to 33 per cent and to earmark 30 per cent of the shareable pool of taxes for special category states like...

Silchar, Jan. 28: Mizoram chief minister Zoramthanga will inaugurate the region?s second border trade centre at Zokhawthar on the state?s border with Myanmar on Friday. Official sources at Aizawl said the centre would facilitate extensive trade in goods produced in India and Myanmar.

Minimum tariff would be slapped on the indigenous industrial and agricultural products to boost trade and curb cross-border smuggling, a source said.

The first trade centre at Moreh on the Manipur-Myanmar border was commissioned in 1995 following the signing of a protocol by the two countries.

Zokhawthar, a...

AIZAWL, April 12—Mizoram Minister of State for Finance Lalchamliana inaugurated the first automated teller machine (ATM) at the Aizawl branch of the State Bank of India here on Saturday.

In his inaugural speech, Lalchamliana said that introduction of ATM at the State Bank here was an important step in the banking service in the state and congratulated the officials of the bank on their achievement.

The State Bank of India first opened its branch in Mizoram in 1971 and the Aizawl branch was fully computerised in March last year. Bank officials said that more ATMs would be installed at the...

AIZAWL, March 21 — Mizoram Chief Minister Zoramthanga, who also holds the finance portfolio, presented an interim tax-free deficit annual budget for the year 2003-04 in the Assembly amounting to Rs 1380.97 crore, on Thursday, reports PTI.

The budget shows an estimated closing deficit of Rs 266.38 crore which the Chief Minister said was due to the reduction in central devolution in respect of grants-in-aid. Zoramthanga presented the supplementary demands for grants for the year 2002-03 amounting to Rs 378.72 crore and vote on accounts for four months beginning from April 2003 amounting to Rs...

New Delhi, Feb. 10: Union minister for the Northeast and small-scale industry C.P. Thakur today released a concept paper on human resource development in the service industry, prepared by the Mizoram government with focus on ?Employment generation and entrepreneurship.?

?This is for the first time that such an initiative has been taken to enlighten the youth of the northeastern region, particularly the youth from Mizoram, where vast opportunities exist. Human resources are among the most productive and highly-contributing sectors to economic and social progress of any country. This conclave...

NEW DELHI, May 7 ? The World Bank on Monday signed agreements for providing $ 315 million in loans for two projects in India aimed at improving the transport system in Mizoram and Kerala, reports PTI. The agreements were signed by Adarsh Kishore, additional secretary, Department of Economic Affairs, on behalf of the Government of India; Edwin Lim, World Bank?s country director; Babu Jacob, principal secretary, PWD, Government of Kerala, and HV Lalringa, chief secretary, Government of Mizoram, an official statement said here. The bank would provide $ 255 million loan for Kerala State Transport...

NEW DELHI, April 25 ? Meghalaya ranked lowest in utilisation of funds from the Centre?s non-lapsable Central pool of resources scheme for the speedy development of the north-eastern region while Tripura topped the list for maximum per capital utilisation of the allocated money, reports PTI. ?The largest amount of Rs 293.16 crore was released for various projects in Assam during the last four financial years allowed by Rs 215.29 crore for Tripura.

The lowest release of Rs 66.81 crore was for Meghalaya due to poor utilisation of funds and lack of viable project proposals,? PD Shenoy, secretary...

AIZAWL, April 25 ? Mizoram Council of Ministers have approved enactment of the Mizoram Protection of Interest of Depositors Bill, 2002 (in financial establishments) here, officials today said, reports PTI. The Bill would help victims of banking fraud, not covered by RBI Acts, the officials said. They said that many bogus and fraudulent financial institutions had swindled crores of rupees from the people in the State during the past 20 years. The Council of Ministers, which met under the chairmanship of State Chief Minister Zoramthanga last night, also decided to enhance the daily wages of...

NEW DELHI, April 24 ? Although the highest allocation from the Non-Lapsable Central Pool of Fund went to Assam, the State has slipped in utilisation, even as Tripura emerged at the top in terms of utilisation of funds sanctioned out of the pool. For the fund starved north-eastern States, there is encouraging news in store as with the activation of the Central Pool of Resources the allocation is expected to go up. Allocation for the last four years has recorded a quantum jump to Rs 1,346.72 crore. Among the north eastern States, the highest allocation of Rs 293.16 crore has flowed to Assam...