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House passes Rs.1774.29 cr interim budget
Correspondent Kohima, Mar 13(NPN):
Published on 14 Mar. 2009 1:15 AM IST
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A vote on account seeking withdrawal of an amount of Rs. Rs.1774, 29, 27,000 (Rs.1774.29 crore)from the state’s consolidated fund for the period April 1 to July 31,2009 was passed through voice vote by eleventh Nagaland Legislative Assembly Friday with a projected deficit of Rs.425. 77 crores at the close of 2008-09 in the budget estimated of 2008 -09. In a written reply to Congress MLA Joshua, the chief minister said that the deficit was likely to go up and the exact figure will be presented before the house in the next session. Mr. Rio also said that the current fund position was a positive cash balance as per RBI account. However , cash balance of a particular point of time was not necessarily a reflection on the deficit or surplus of the state the figures were normally assessed for the financial year after taking into account all the receipts and expenditure during the year. In supplementary Joshua demanded to know the factors for the increasing deficit and the remedial measures taken to contain the deficit. The chief minister replied that the deficit was not faced peculiar to Nagaland but also north east and all over the country including the union government. He said as Nagaland was a state crunch state, deficits were unavoidable. The house passed altogether three appropriation bills including the vote on account, supplementary demand for grant for the year 1996-97 and supplementary demand for grant for the year 2008-09, on the last day of the session before the speaker adjourned the house sine die.

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