Mizoram Reeling Under Financial Crunch Due To COVID-19: CM

No Comments
Posted in Featured, Mizoram

Mizoram Chief Minister Zoramthanga on May 28 said the state is reeling under an acute financial crisis due to COVID-19, which has also worsened due to multiple problems like the outbreak of the African Swine Fever (ASF).

“The COVID-19 outbreak has hit the state’s economy hard,” Zoramthang, who also holds the finance portfolio, said.

“I want you to be aware of the financial crisis faced by the state government. Though we have passed an annual budget amounting to crores of rupees, the outbreak of COVID-19 has greatly reduced the quantum of revenue collection at the Central government, which in turn greatly affected our state’s share of taxes,” the chief minister said.

Zoramthanga further said that the state’s share of taxes has dropped by Rs 1,500 crore during fiscal 2020-2021.

“The state’s financial crunch has also been aggravated by repayment of state’s liabilities amounting to Rs 150 crore and meeting the states matching share to the World Bank,” he added.

Tags: ,

Leave a Reply

Your email address will not be published.

Fill out this field
Fill out this field
Please enter a valid email address.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

The reCAPTCHA verification period has expired. Please reload the page.

More Articles