via Mizo News on March 19, 2015
Aizawl: Failing to present the full budget, state Finance Minister Lalsawta today obliged to present before the fifth session of the seventh Mizoram Legislative Assembly a Vote on Account for the first four months of the fiscal year 2015 – 2016 amounting to a total of about Rs. vote 3277.22 crore for discussion. He said that with the new arrangements on the horizon, the efforts being made by the Government of Mizoram to create a financially robust government through generation of more revenue and economy measures would need to be pursued relentlessly.
Aizawl: Failing to present the full budget, state Finance Minister Lalsawta today obliged to present before the fifth session of the seventh Mizoram Legislative Assembly a Vote on Account for the first four months of the fiscal year 2015 – 2016 amounting to a total of about Rs. vote 3277.22 crore for discussion. He said that with the new arrangements on the horizon, the efforts being made by the Government of Mizoram to create a financially robust government through generation of more revenue and economy measures would need to be pursued relentlessly.
The finance minister also tabled before the house the Supplementary Demand for Grants 2014 -2015, Economic Survey 2014 – 2015 and the Supplementary Demand for Regularisation of Excess Expenditure for the period 2010 -2011 and 2011 – 2012.
In his budget speech, Lalsawta however, regretted that the full budget for the fiscal year 2015 -16 could not be presented on account of unresolved role to be played by NITI Aayog, the new institution constituted by the new BJP government in replacement of the existing Planning Commission.
“It is indeed imperative on my part to inform the Hon’ble members that due to the replacement of the Planning Commission by the NITI Aayog and the subsequent role to be played by the new institution, I am not in a position to present the full Budget for 2015 -16”, he said.
In the third sitting of the 5th budget session of 7th Mizoram Legislative Assembly held amid peaceful decorum, Finance Minister Lalsawta present before the august house the ‘Vote on Account’ for expenditure of the Government of Mizoram for April to July, 2015 amounting to Rs. 32,77,22,61,000/- and asked the house for its kind appreciation and approval.
The minister also present the Supplementary Demand for Grants 2014 -2015 amounting to Rs 21,54,90,86,000/- and the Supplementary Demand for Regularisation of Excess Expenditure for 2010 -2011 and 2011 – 2012 amounting to Rs 4,69,38,000/- and Rs 59,35,000/- respectively.
Regretting for a failure to present regular budget for the current year, Finance Minister said the report of the 14th Finance Commission was received late only on the 24th February, 2015 thus leaving the state government no time to prepare a regular budget, with the budget session already fixed to commence from the 17th March, 2015. “It is expected that when detailed guidelines on the recommendations of the 14th Finance Commission and NITI Aayog are received, full budget will be presented in the subsequent Assembly session”, Lalsawta told the house, while appealing the members to appreciate the situation and their approval on Vote on Account. The minister told the august house that the report of the 14th Finance Commission, as accepted by the government of India and the speech of Hon’ble Prime Minister of India indicate that changes in the devolution of resources form the Central government to the federating states are being made to ensure that more financial responsibility to the states would now empower the states for more meaningful fiscal roadmap.
“It has become evident, therefore, that with the new arrangements on the horizon, the efforts being made by the Government of Mizoram to create a financially robust government through generation of more revenue on one hand and economy measures on the other hand, would need to be pursued relentlessly”, he added.
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