Nagaland Legislative Assembly was adjourned sine die today after passing Rs 3,523.58 crore vote-on-account to defray expenses of the State government during the first four months of 2014-15 fiscal.
The Assembly passed the vote-on-account by voice vote without any cut motions or discussions.
Earlier, Speaker Chotisuh Sazo said since the vote-on-account is for the first four months only, the members can discuss at length during the full budget, which would be presented sometime in July.
The vote-on-account was presented by Chief Minister Neiphiu Rio, who also holds the Finance portfolio, on Friday.
He said the vote-on-account was presented following the Planning Commission decision to hold annual plan discussions with the states only after the completion of the Parliamentary polls.
He said the amount sought to be passed in the vote-on-account is approximately one-third of the estimated expenditure for 2014-15.
He said as per current estimates, the total receipts for 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, 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 crores.
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.
