CM to present Budget today

CM to present Budget today

Kohima, March 22: Chief Minister Neiphiu Rio, who also holds the finance portfolio, will present the State Budget for the fiscal 2018-19 on Friday.
The first budget of the PDA Government is expected to be a deficit budget. Nagaland Governor PB Achary said as much when he addressed the assembly today.
Stating that new Government has inherited a huge deficit, the Governor said the budgetary deficit of the State that stood at Rs 950.09 crores on March 31, 2014 has skyrocketed to Rs 1657.88 crores as on March 31 last year, a jump of almost 75%, while the figures at the end of this month are likely to be higher.
In this, the Governor said the new Government should bring in fiscal prudence and discipline, while also ensuring the State’s due share in taxes and fiscal grants from the Centre.
He also asked the Government to take hard decisions to control wasteful expenditure and misuse of funds. On the Government’s behalf he assured to ensure strict verification of the works done under development schemes before releasing payment.
(Page News Service)