Mizoram presents tax free, revenue surplus budget

RSTV Bureau
File photo of Mizoram Chief Minister PU Lalthanhawla.

File photo of Mizoram Chief Minister PU Lalthanhawla.

Mizoram Finance Minister Lalsawta today presented a tax-free surplus budget of Rs 8,803 crore for 2017-2018.

Presenting the budget in the state Assembly, he said that Rs 239. 50 crore was earmarked for maintenance of roads while Rs 657.64 crore for ongoing road construction as well as construction of new roads.

Another Rs 366.77 crore was allocated under Externally Aided Projects (EAP) for construction of roads and other infrastructure work with fund from the World Bank and the Asian Development Bank.

He said that Rs 750 crore was allocated for implementation of the New Economic Development Policy (NEDP).

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 proposal for hike in the rates of taxes in his budget as the GST would supersede the whole tax regime.