Aizawl, Jul 14 : Mizoram Finance Minister H Liansailova today presented annual budget of the state for the current fiscal amounting to Rs 4,216.09 crore with an estimated closing deficit of Rs 30.75 crore in the state legislature.
While Rs 1,700 crore was allotted by the planning commission as the state annual plan outlay, the non-plan component amounted to Rs 2,410.27 crore and the devolution of fund expected from North Eastern Council (NEC) and Centre sponsored scheme were Rs 54.90 crore and Rs 50,90 crore respectively.
In his budget speech, Liansailova said Gross State Domestic Product (GSDP) was projected to grow at 9.57 per cent during 2010-11 while National economy was projected to grow at 8.6 per cent during the same period.
He said the projection of GSDP for the current fiscal at the current prices stood at 7,216.75 crore and described the growth rate as quite encouraging.He, however, said that the Economic Survey shows, for the current financial year , that the services sector continue to be the dominating sector with its share of 59.47 per cent, followed by industries sector at 21.97 per cent and Agriculture sector at 18.56 per cent.
"There is a slight improvement in industrial sector in comparison with the growth rate of the previous year," he said, however, adding that the agriculture sector shows a declining growth rate and the government should invest more on industries and agriculture sectors for balanced growth.
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