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 460.32 crore.
In his budget speech, Zoramthanga said that due to non-finalisation of the state annual plan outlay by the Planning Commission, he was constrained to present a budget which was interim in nature and would seek vote on account for the first four months of the next fiscal. He said that though the state government was under financial stress throughout the current fiscal, efficient financial management helped the government to tide through an uneventful financial year.
“Though our fiscal future looks bleak, it is heartening that the Centre has shown its concern and willingness to lend a helping hand in our endeavour to improve the financial situation of the state,” he said. He welcomed the setting up of a special committee of a group of officers to study the financial problems of north eastern states and suggest possible solutions by the Centre. He also expressed the hope that the debt swap programme envisaged by the Central government to alleviate the state’s increasing debt burden would also help in solving financial problems of Mizoram.