Vote on account presented in Nagaland assembly

Nagaland Chief Minister Neiphiu Rio today presented Rs 3,523.58 crore vote on account for the fiscal 2014-15 to defray the expenses of the state government during the first four months from April 1 to July 31.
Presenting the vote-on-account in the state Assembly, Rio who also holds the finance portfolio, informed the 60-member House the vote-on-account was presented consequent upon the decision of the Planning Commission to hold the Annual Plan discussions with the states only after the completion of the forthcoming Parliamentary Elections.
He said the amount sought to be passed in the Vote on Account is approximately one-third of the estimated expenditure for the next financial year 2014-15.

He said as per the current estimates, the total receipts for the 2014-15 has been placed at Rs 10,714.22 crore and the total expenditure at Rs 10,538.08 crore, reflecting a positive balance of Rs 176.14 crore in the consolidated fund of the state.
However, he said that after adding a deficit of Rs 189.79 crore in the Public Account, the current transactions of the year are expected to result in a deficit of Rs 13.65 crore.
He also said since the opening deficit of the next fiscal is estimated at Rs 950.90 crore, the financial year 2014-15 is expected to close with a deficit of Rs 964.55 crore.

Having filed the nomination for the Lok Sabha election from lone Nagaland Parliamentary Constituency yesterday, this will be his last vote-on-account in the State Assembly.