Mizoram to enter fiscal year with surplus

Aizawl, Mar 15 (UNI) For the second consecutive year, Mizoram will enter the new fiscal with yet another surplus to the tune of Rs 129.63 crores, making it clearly evident that the state's financial health is clearly on the road to improvement.

Presenting the 2006-07 budget in the House, Chief Minister Zoramthanga, who also holds the finance portfolio, said the annual plan size of the 2006-07 budget had been fixed at Rs 758 crores which is an is an increase of 10.66 percent over the plan of 2005-06.

''A remarkable feature of this budget is that we have an estimated revenue surplus to the tune of Rs 135.05 crores. This trend is in keeping with the revenue surplus we had to the tune of Rs 85.40 crores in the Budget Estimates for 2005-06. This is clearly a positive reflection on the achievement in the management of the state's finances,'' the chief minister said adding that this had been the result of prudent financial management his government had been 'assiduously' pursuing for the last few years.

According to sources in the Finance department, the state's financial health improvement was due to the award of Rs 14,000 crores to the state for the period between 2005-10 by the 12th Finance Commission which is an 83.84 percent leap from the award given by the 11th Finance Commission.

The apparent anomaly in surplus of revenue which is Rs 135.05 crores and the overall Budget surplus of Rs 129.63 crores is due to financial losses in other sectors, the sources said.

The sector-wise allocation of funds for 2006-07 is as follows: Agriculture and Allied activities Rs 75.90 crores, Rural Development Rs 25 crores, Special Area Programmes Rs 39.41 crores, Irrigation&Flood Control Rs 31.69 crores, Energy Rs 72.61 crores, Industries&Minerals Rs 23.04 crores, Transport Rs 114.98 crores, Communication Rs 5.30 crores, Science, Technology&Environment Rs 1.44 crores, General Economics Services Rs 64.27 crores, Social Services Rs 286.19 crores and General Services Rs 18.17 crores.

That the state is clearly on the road towards financial improvement is also seen in the fact that there had been no overdrafts during the past year.

Another feature that clearly showed improved financial condition is also the increasing infrequencies of resorting to Ways and Means Advances to meet expenses.

Compared to 2004-05 when Rs 295.14 crores had been acquired through Ways&Means Advance, only Rs 63.24 crores was acquired during 2005-06 through this means.

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