The balanced annual budget for the fiscal 2019-2020 amounting to Rs 10,692.30 crore was presented on Thursday Credit: Representational image

Aizawl: Mizoram chief minister Zoramthanga on Thursday presented a balanced annual budget for the fiscal 2019-2020 amounting to Rs 10,692.30 crore with a motive to ensure economic stability in the state.

It was the first regular budget of the Mizo National Front (MNF) government after it assumed power in December last year. The budget gave special emphasis to the implementation of the government’s flagship programme, Socio-Economic Development Policy (SEDP), and creation of three new districts.

The government laid emphasis on implementation of SEDP for which Rs 750 crore has been allocated during the current fiscal, said Zoramthanga.

In March, Zoramthanga had sought vote on account for four months (April to July) amounting to Rs 3,588.85 crore.

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Presenting the budget, the CM, who also holds the finance portfolio said that the government gives priority to education and health, and would take austerity measure, as far as possible, to ensure financial stability in the state.

He said that the annual budget is a balanced budget as the estimated expenditure is exactly equal to expected total receipts.

The SEDP aims at bringing sustainable development by accelerating progress in key sectors through exploration and judicious use of resources and maintaining equality and equity among the citizens.

The state being committed to improve healthcare, the Chief Minister allocated Rs 70 crore under SEDP for recruitment of doctors and nurses and implementation of state healthcare scheme respectively.

Besides, Rs 50 core was allocated as health care corpus fund to improve healthcare scheme formulated by the previous MNF government.

Addressing a press conference after presenting the budget, Zoramthanga said the SEDP would be implemented basically on project based unlike the Congress’ New Land Use Policy (NLUP), which was “money distribution” oriented.

“The state government will make detailed project reports as much as possible to avail huge financial assistance from the Centre under the SEDP,” he said.

He added that the government would focus on privatisation, mechanisation and large-scale production to boost the state’s economy.

According to Zoramthanga, the state government is committed to its poll promises to implement three new districts- Saitual, Khawzawl and Hnathial, the creation of which were announced during the previous MNF government in 2008.

Also Read: 25,469 people benefit from old-age pension scheme in Mizoram

“I proposed to set aside a total of Rs 450 lakh, Rs 150 each for initial establishment of deputy commissioners’ offices in the three districts and Rs 195 lakh each for construction of district superintendents of police offices,” he said.

Besides, a total amount of Rs 8.55 crore was allotted for the initiation and establishment of the new districts, he said.

Taking cognizance of the need to improve education at elementary level, the Chief Minister allocated Rs 30 crore for recruitment of teachers to ease man power crunch, and Rs 150 crore for improvement of road under SEDP besides Rs 50 crore to road fund board under PWD.

The government also increased fund allocation for smooth functioning of Lok Ayukta from Rs 159.34 lakh to Rs 371.06 lakh.

In the field of sports, the chief minister allocated Rs 2.5 crore for implementation of sports policy and Rs 10 crore under SEDP for maintenance of existing sports infrastructures.

MLA local Area Development Fund has also been raised from Rs 1 crore to Rs 1.5 crore.

The Gross State Domestic Product (GSDP) was projected to be Rs 25,869.14 crore at current price at a growth rate of 16.15% and total estimated liabilities was Rs 8,447.92 crore which is 32.66% of the projected GSDP.

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