Mizoram Finance Minister Lalsawta on Thursday presented a tax-free surplus budget for 2017-2018 amounting to Rs 8,803.10 crore. The surplus is Rs 331.07 crore, he said, adding that the it was possible with the revenue surplus of Rs 1,787.10 crore.
On the budget allocation on different sectors, the finance minister said among others Rs 750 crore were allocated for implementation of the New Economic Development Policy (NEDP).
He said that Rs 239. 50 crore were earmarked for maintenance of roads while Rs 657.64 crore for ongoing road construction as well as construction of new roads.
Rs 366.77 crore were allotted under Externally Aided Projects (EAP) for construction of roads and other infrastructure works with fund from the World Bank and the Asian Development Bank.
Lalsawta expressed hope that the state’s revenue would increase after the implementation of the Goods and Services Tax (GST) from July.
He said that he did not make any proposals for hike of the rates of taxes in his budget as the GST would supersede the whole tax regime.