Now, Nagaland projects Rs 1,652.64 crore deficit for FY 2020-21

Kohima: Following the revenue receipt for the month of May, Nagaland has projected an annual shortfall in revenue for the financial year 2020-21 to about Rs 1,652.64 crore. This was announced by Nagaland chief minister Neiphiu Rio during a press conference on Monday evening.

“Because of the decline in all economic parameters and the resulting negative impact on our taxes and resources, we are looking at a grim situation where the annual shortfall in revenue may come to about Rs 1,652.64 crore,” Rio said.

The chief minister also said that most activities of the state government during 2020-21 will be centered on the COVID-19 pandemic and related activities. With un-budgeted amounts being utilized to fight the pandemic in the coming months until the situation stabilises, he said that it may further lead to decline in the financial position of the state.