Mizoram CM presents FY22 budget with over Rs 11,000-cr outlay

Mizoram Chief Minister Zoramthanga on Monday presented the annual budget for the 2021-22 fiscal with an outlay of Rs 11,148.90 crore and no proposal to levy new taxes or raise existing rates.

Zoramthanga also presented the supplementary demands for grants for 2020-21 amounting to Rs 3,058.08 crore.

Revenue expenditure for 2021-22 is estimated at Rs 9,216.39 crore, which is 82.67 per cent of the total budget, he said.

The CM, who also holds the finance portfolio, said the state government is constantly taking measures to increase its revenue from all sectors.

The revenue targets will be achieved not by imposing fresh taxes but through more efficient tax collection, he said.

The state government also expects a Rs 5,267.82-crore grant from the 15th Finance Commission, and Rs 2,570.39 crore for implementation of Centrally Sponsored Schemes (CSS), Zoramthanga said.

He said in spite of limited revenue resources, his government is aiming at maintaining a revenue surplus of Rs 579.42 crore in 2021-2022.

Zoramthanga added that the Mizoram government will have to continue with its austerity measures till the state's financial position improves.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)