Nagaland Govt presents Rs 1,426-cr deficit budget
Source: The Sangai Express / Press Trust of India
Kohima,July 23 2015:
Nagaland Chief Minister T R Zeliang today presented an over Rs 1,426 crore deficit budget for the 2015-16 fiscal.
The state govt has also revised stamp duty on land purchase and also increase in floor rates of VAT on tobacco, Canteen Stores Department (CSD), petroleum products and amusement tax to be effective from August 1.Presenting the budget in the Assembly today, Zeliang, who also holds the Finance portfolio, said the total receipts for the fiscal was estimated at Rs 12,041.83 crore, while the expenditure was calculated at Rs 13,349 crore, including the Public Accounts.
The current year's transactions were estimated to result in a negative balance of Rs 1,308.32 crore, but with negative opening balance of Rs 117.97 crore, the year 2015-16 was estimated to close with a negative balance of Rs 1,426.29 crore, he said.