On March 1, 2021, Mizoram Chief Minister Zoramthanga who also holds the Finance Portfolio presented the annual budget for the year 2021-22 with an outlay of INR 11, 148.90 crores.
- There are no proposals to levy new taxes or increase tax rates in the new budget.
- Also presented supplementary demands for grants for the financial year 2020-2021 amounting to Rs. 3,058.08 crore.
- Revenue Expenditure for 2021-22 – INR 9, 216.39 Crore which is 82.67 % of the total budget,
- Gross Fiscal Deficit for fiscal 2021-22 – 2.14% and the primary deficit is 1.12% of the State Gross Domestic Product (GSDP).
- The state government is expecting to increase the state’s own tax and non-tax revenue during fiscal 2021-2022 at Rs. 1,571.82 crore at an estimated growth of 26.27%.
- Funds kept aside for Capital Expenditure (creation of assets for public) – INR 1, 932.50 crore
- The State Government is expecting INR 5, 267.82 crore grant from the 15th Finance Commission & INR 2, 570.39 crore for implementation of Centrally-Sponsored Schemes (CSS).
- Allocation of INR 400 Crore for various activities of Socio-Economic Development Policy (SEDP).
- A sum of INR 5 Crore has been set aside for the Rehabilitation of MNF (Mizo National Front) Returnees, who have come overground with the signing of Mizo peace accord in June, 1986.
- INR 60 Crore has been allocated for MLA Local Area Development fund.
- INR 10 Crores set aside for availing subsidized loans which will be used for strengthening & promoting Co-operative Societies.
- INR 4, 077.29 Crore has been allocated for the Social Services Sector (36.57% of total budget).
Recent Related News:
i.On May 23, 2020, Mizoram became the 1st Indian State to give ‘Industry’ status to sports to boost the sports sector, generate employment, increase value of sports & to attract private companies to invest in sports.
ii.August 5, 2020, Union Minister of State for Culture & Tourism (I/C) Prahlad Singh Patel virtually inaugurated the first golf course of Mizoram i.e. “Thenzawl Golf Resort” Project, implemented under the Swadesh Darshan (SD) Scheme of Ministry of Tourism, from New Delhi.
National Parks (NP) – Murlen NP, Phawngpui NP (also known as Phawngpui Blue Mountain National Park)
WildLife Sanctuary (WLS) – Khawnglung WLS, Lengteng WLS