For financial year 2023-24 budget of Rs.14,209 cr presented by CM

Aizawl: Mizoram CM Zormathanga on Monday presented the state’s annual budget for the financial year 2023-2024 with a total outlay of Rs 14,209.95 crore while the state’s flagship programme- Socio-Economic Development Policy (SEDP) and Health Special emphasis was laid on maintenance scheme.

The Chief Minister said that the new budget is a zero deficit as well as a non-surplus budget as the estimated total receipts are exactly equal to the estimated total expenditure.
The budget for 2023-24 neither imposes new taxes nor proposes to increase the existing rates.

The Chief Minister also presented supplementary demands for the current financial year (2022-2023) amounting to 3,265.69 crores.
Addressing a press conference after presenting the annual budget and supplementary demands, Zormathanga, who also holds the finance portfolio, said that the lack of share of central taxes due to the Covid-19 pandemic had a deep impact on the state economy. It has an effect.
He said that the government did not collect its share of taxes of more than Rs 3,000 crore in the last two financial years 2021-22 and 2022-23.

The Chief Minister said, “It is indeed a pleasure to present such a big budget which is Rs 201.80 crore more than the 2022-23 budget despite the fiscal animosity and the absence of important projects like Rs 600 crore under PM- Devine Projects. I”. As he presented the annual budget and supplementary demands.
Zoramthanga emphasized on SEDP and allocated Rs 595. crore for the implementation of the flagship program during the financial year 2023-24.
Out of Rs 595 crore, Rs 300 crore was earmarked for implementation of family-based SEDP in 2023-24. “Under the family-based programme, the government has arranged to distribute financial assistance of Rs 50,000 to 60,000 families during the current financial year and the first installment of Rs 25,000 each has already been distributed on 5, It has been distributed among 996 beneficiaries. They said.
The CM also told reporters that “the amount (Rs 25,000 for each beneficiary) has been sanctioned for the second installment, which will be disbursed during the current financial year.”

He said his government would also distribute the second phase of family-based SEDP assistance to thousands of beneficiaries during the new financial year 2023-24.
Apart from the Rs 300 crore earmarked for the family-based SEDP, Zormathanga has allocated Rs 220 crore under the flagship program as counterpart funding for centrally funded projects, the health care scheme. 50 crore has been allocated for the implementation of Rs. 25 crores was earmarked for non-aligned SEDP.
With an additional Rs 10 crore from the state lottery, the total amount earmarked for implementation of the state health care scheme is Rs 60 crore, the CM said.

The opposition has attacked the Zormathanga government for failing to pay health insurance worth crores of rupees to the beneficiaries.
The Chief Minister said that his government has sought a loan of Rs. 1,000 crore from the Asian Development Bank (ADB) for implementation of the State Health Care Scheme.

He told reporters that the proposal has been approved by the Center and processing of the said loan is underway.
Of the total Rs 14,209.95 crore annual budget, 21.90 per cent (Rs 3,141.19 crore) has been earmarked for capital expenditure and 78.10 per cent (Rs 11,068.76 crore) for revenue expenditure, he said.
While capital expenditure is to create assets for the public, revenue expenditure mainly includes salaries and wages, pension expenditure, interest payments and purchase of electricity. 60 crores have been allocated for the MLA Local Area Development Fund.

To continue supporting the preparation of talented students for All India Service and other Central Service Examinations, the Chief Minister has allocated Rs.50 lakhs.
“Rs 200 crore was earmarked for the smooth conduct of the state assembly elections in November, while Rs 5 crore has been earmarked for the rehabilitation of ex-Miz National Front cadres,” he said.

According to the Chief Minister, in the new financial year, the State Own Tax Revenue (SOTR) is expected to increase by 35.32 percent over the current financial year and the State Own Non-Tax Revenue (SONTR) by Rs 60.57 crore.
He said that state GST is expected to be an important component of SOTR.
“The state needs to try to find more room to get additional revenues as our liabilities for revenue expenditure are increasing, while we are mostly dependent on sources, i.e. post-devolution revenue deficit grants in the future. It’s going to end soon.”
He said that the main source of revenue of the state comes from the state SOTR, SONTR, share of central taxes, revenue gap grants, grant-in-aid and assistance from the center and the collection of total revenue from these sources. 11,486.63 crore is estimated at Rs.

Zoramathanga also aims to maintain a revenue surplus of Rs 417.87 crore.
As per the recommendations of the 15th Finance Commission, the state is expected to receive Rs 5,107.25 crore as central tax share, while the total estimated grants, including post-devolution revenue deficit grant and local body grants, will be Rs 4,398 crore from the Centre. is expected. Crore, he said.

“The state is also expected to get Rs 2,670.42 crore under various centrally sponsored schemes,” Zormathanga said.