Mizoram Chief Minister Zoramthanga while presenting the annual state budget on Monday informed that untied grants from the central government have reduced hence economic recovery from the Covid crisis is likely to be slow and uneven, as the economic and social impact of the virus has been devastating.
The Chief Minister presented the state annual budget for the 2021-22 financial year amounting to Rs 11,148.89 crore without new proposals for levy of additional taxes or enhancement of tax rates in the state assembly today.
Zoramthanga, who also holds finance portfolio, while presenting the budget said that the budget was Rs 433.89 crore higher than the Budget estimates of the previous year.
He added that the shortfall in the receipt of funds from the share of central taxes during 2020-21 was over Rs 1,185 crore, caused by the sharp decrease in collection of taxes by the central government due to the Covid-19 pandemic.
In order to recover the Chief Minister informed that the state government will make concerted efforts to reduce the revenue expenditure in the years to come as also increase the state’s own tax revenue and non-tax revenue by improvement of efficiency in collection of taxes and non-tax revenues, without increasing the taxable items or enhancing rates of taxes.