Kohima, Mar 27: The first Session of the 13th Nagaland Assembly, which was the Budget Session,
after finishing all the business of the session, Assembly Speaker Vikho-o
Yhoshu adjourned the Session sine-die last night.
On the ultimate day of the Budget Session today, the House
passed three bills, the Nagaland Road Safety Authority Act 2013 (First
Amendment) Bill, 2018, Nagaland Appropriation (No. 1) and (No. 2) Bills, 2018
by voice votes. The House also passed Demands for Grants for the year 2018-
2019 by voice votes.
During the Budget Session Nagaland Chief Minister Neiphiu Rio, who is also holding the Finance portfolio, presented an accumulated Deficit Budget of Rs 1630.67 Crore on Friday (March 23) last. In his Budget speech Rio said that the total estimated receipts was calculated at Rs 18, 232.51 Crores and total estimated expenditure was Rs 18, 305. 40 Crores and the transaction for the financial year 2018-2019 is estimated to result in a negative balance of Rs 22.94 Crore.
The main reason for the negative balance is on account of the implementation of Revision of Pay 2017, which will have a huge additional burden. In addition, with the negative opening balance of Rs 1607.73 Crore, the year is estimated to close with a negative balance of Rs 1630.67 Crore. UNI
During the Budget Session Nagaland Chief Minister Neiphiu Rio, who is also holding the Finance portfolio, presented an accumulated Deficit Budget of Rs 1630.67 Crore on Friday (March 23) last. In his Budget speech Rio said that the total estimated receipts was calculated at Rs 18, 232.51 Crores and total estimated expenditure was Rs 18, 305. 40 Crores and the transaction for the financial year 2018-2019 is estimated to result in a negative balance of Rs 22.94 Crore.
The main reason for the negative balance is on account of the implementation of Revision of Pay 2017, which will have a huge additional burden. In addition, with the negative opening balance of Rs 1607.73 Crore, the year is estimated to close with a negative balance of Rs 1630.67 Crore. UNI
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