Pandemic hugely affected state’s economy: Nagaland CM Neiphiu Rio

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