Mizoram's financial position shows significant improvement: CM

Aizawl, Apr 3 (PTI) Mizoram Chief Minister Lalduhoma on Thursday said that the state's financial position showed a substantial improvement over the past one year because of several austerity measures taken by his government.

He said that the ZPM regime retained a cash balance of Rs 1,093 crore with the Reserve Bank of India (RBI) at the end of 2024-2025 despite fiscal challenges.

The state's cash balance - the amount of money a government has to pay its bills, salaries and other expenses - at the end of the 2023-2024 fiscal was Rs 520 crore, the CM said.

The Zoram People's Movement (ZPM) came to power in December 2023.

Lalduhoma, who also holds the finance portfolio, said that retaining over Rs 1,000 crore cash balance is a rarity in the context of Mizoram, as the figure usually stood at Rs 100-200 crore earlier.

It also became negative when salaries and pensions for March were disbursed in the first month of the new financial year (April) in the past, he said while addressing a function in Aizawl.

"In spite of fiscal challenges and owing to austerity measures, we are able to retain a cash balance of Rs 1,093 crore with the RBI as on April 1 against Rs 520 crore balance on April 1, 2024. This is a clear indication of significant improvement in the state's financial position," Lalduhoma said.

The chief minister said that except for one occasion, his government did not slip into an overdraft since it assumed charge on 8 December 2023, he said.

He claimed that no ministers, MLAs or officials have indulged in corruption during the one and three months of the ZPM government. PTI CORR NN

Source: PTI