Tax-free budget for Mizoram

AIZAWL, March 21: Mizoram Chief Minister Zoramthanga presented a tax-free deficit Budget for the third consecutive year before the state legislative assembly today. Zoramthanga promised to mop up more revenue during the next fiscal keeping the "avoidable" expenditure under check. However, no fresh taxes were announced by the Chief Minister. It will be the endeavour of the taxation department to collect more revenue in 2001-2, he said, adding that the department managed to mop up Rs 908.77 lakh as revenue against the target of Rs 685 lakh. Zoramthanga also sought supplementary demands for grant of Rs 419.09 crore for April, 2001, out of which Rs 92.87 crore was by way of adjustment of the existing Budget provision not additive. The budget estimates for 2001-2 envisaged a closing deficit of Rs 148.59 crore, which was slightly higher than last years revised budget estimate of Rs 146.99 crore. However, the last fiscal commenced with a deficit of Rs 44.99 crore against the estimated deficit of Rs 245.37 crore. The notable improvement in the opening deficit, according to Zoramthanga, was due to grant of 'Peace Bonus' by the Centre and improvement in the management of State finances.