Kohima [Nagaland], March 22 (HornbillTV): Nagaland Chief Minister Neiphiu Rio presented the Budget for 2022-23 in the House for consideration and passing the budget for 2022-2023. 

The chief minister said that due to growth in the country's economy during the current year, the state's share of central taxes was increased in the Revised Estimates of the Union Budget by INR 547.10 crore.

The state's own revenues are also estimated to improve by INR 42.45 crore, updates said. In view of these improvements, the year 2021-22 is estimated to close with a deficit of INR 2363.04 crore as against the earlier estimate of INR 2679.46 crore in the Budget Estimates.

As regards the Budget proposals, estimating the gross receipts at INR 24389.80 crore and gross expenditure at INR 24239.50 crore for the financial year 2022-23.   

The current year's transactions for the year 2022-23 are estimated to result in a positive balance of INR 150.30 crore. However, because of the negative opening balance of 323 63.04 crore, the year 2022-23 is estimated to close with a negative balance of INR 2212.74 crore.