Mizoram Chief Minister Lalduhoma, who also holds finance portfolio, presented the state annual budget for 2024-2025 amounting to Rs. 14,276.62 crore sans proposals for levy of new taxes, but announced proposed increase stamp duty from 1 per cent to 3 per cent. In his maiden presentation of the state budget, Lalduhoma also presented the Supplymentary Demands for grants for the year 2023-2024 amounting to Rs. 3,294.16 crore required under revised estimates. He said that the revenue expenditure of the budget during the next fiscal (2024-2025) accounts for 82.97 per cent of the total estimated expenditure for the fiscal while capital expenditure for the same financial year accounts for 17.03 per cent of the gross total expenditure.
Revenue expenditure is for non-developmental expenses including salaries of government employees, pension, establishment costs and others while capital expenditure is for asset making and developmental works including infrastructural development. “The marginal increase in Revenue Expenditure may be attributed to increase in salary and pension, increase in establishment costs, power purchase, water pumping cost, purchase of foodstuff and upgradation of private schools among others,” he said.
“In preparing this budget, we have prioritized inclusive and sustainable socio-economic uplift of the people of Mizoram. Realistic, transparent financial management and accountability will be at the forefront of our governance, ensuring that public funds are utilized in the best interest of the public,” the chief minister said. “Under the fragile financial situation, our Government is obligated to observe the ensuing year as a ‘Year of Consolidation’ while at the same time embark on a new system of governance or ‘Kalphung Thar – Mipui Sawrkar’ to meet the people’s aspirations for socio-economic reforms with mobilisation of financial resources as our top priority.
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