Pandemic hugely affected state’s economy: Nagaland CM Neiphiu Rio
First Published: 6th August, 2021 21:46 IST
Nagaland Chief Minister Neiphiu Rio on Thursday said that the COVID-19 pandemic has been highly disruptive and challenging and it pulled down the state’s economy to the tune of Rs
Nagaland Chief Minister Neiphiu Rio on Thursday said that the COVID-19 pandemic has been highly disruptive and challenging and it pulled down the state’s economy to the tune of Rs 1,013.11 crore during 2020-21.
He said this while making the concluding remarks in the state assembly on the discussion on urgent public importance pertaining to post COVID-19 economic recovery of the state initiated by Minister for Planning & Coordination, Land Revenue and Parliamentary Affairs, Neiba Kronu.
COVID-19 pandemic has been highly disruptive and challenging, and has impacted us in many ways but we have to look beyond the COVID-19 pandemic, to a future with high rates of sustained economic growth and better income levels for our citizens, he said.
The chief minister stressed the need for keeping a focus on saving livelihoods as well as lives during difficult times.
Lockdowns and restrictions have led to a sharp impact on economic activities at the global and national level and the state has also not been spared, he said.
From 7.43 per cent growth during 2019-20, the state’s economy is anticipated to register a negative growth of -5.59 per cent (Advanced Estimate) during 2020-21. In absolute terms, the contraction in the state economy is anticipated to the tune of Rs 1013.11 crore during 2020-21, Rio said.
The CM said that in 2021, the State Plan size was Rs 639 crore on which a pro-rata cut of 15 per cent was applied, reducing the plan size to Rs 572 crore.
However, keeping in view the need to give a boost to developmental activities, the state plan size for the current financial year has been enhanced to Rs 700 crore which represents an increase of over 22 per cent over the revised State Plan outlay of last year, Rio said. PTI
COMMENTS
TOPMOST STORY NOW
Live Nagaland: Cong backs indefinite shutdown by Dimapur Chamber of Commerce and Industry (DCCI)
27th April 2024Live Assam: CM Himanta Biswa responds to former BJP Nagaon MP Rajen Gohain’s anti-party remark
27th April 2024Live High speed car accident in US: 3 women from Gujarat dead
27th April 2024Live Nagaland: Is taxation by NPGs legal or illegal? Dimapur business community asks Nagaland Govt
27th April 2024WE RECOMMEND
Nagaland: Is taxation by NPGs legal or illegal? Dimapur business community asks Nagaland Govt
The Dimapur Chamber of Commerce and Industry has put forward a charter of 5 demands amid the ongoing indefinite shutdown of shops and business establishments in Nagaland from today
27th April 2024Nagaland: Cong blames Rio govt for alleged multiple taxation, intimidation to business community
The Congress has demanded that the Nagaland Government take adequate steps to mitigate the problems
27th April 2024Nagaland: CNCCI’s indefinite shutdown against multiple taxes, intimidation begins
CNCCI has appealed to the business community to participate in the shutdown and also urged people across the state to cooperate with the shutdown call
27th April 2024Nagaland: Unprecedented rainfall since April 19 damages dam and crops, leaves villagers devastated
Longsa village, known for its substantial vegetable production, has been the worst hit.
24th April 2024ENPO lifts indefinite total shutdown in Eastern Nagaland, a day after LS polls get over in Nagaland
Almost zero voter turnout for the Lok Sabha elections was recorded yesterday in the 6 districts of eastern Nagaland following the indefinite total shutdown.
20th April 2024