Neiphiu Rio’s ‘People-Centric’ Budget 2024-25: A Path Towards Citizen Welfare

Introduction

Neiphiu Rio, the Chief Minister of Nagaland, has recently unveiled the budget for the fiscal year 2024-25, terming it as ‘people-centric’. This budget marks a significant milestone in the state’s journey towards bolstering the welfare of its citizens. With a focus on innovative initiatives and a commitment to prioritize the needs of the populace, Rio’s budgetary plans aim to address key challenges while harnessing the untapped potential of the state’s resources.

Key Highlights of the Budget: Neiphiu Rio’s ‘People-Centric’ Budget 2024-25

1. Chief Minister’s Universal Life Insurance Scheme: One of the groundbreaking initiatives introduced in the budget is the Chief Minister’s Universal Life Insurance Scheme. This scheme, fully backed by the State government, aims to provide comprehensive life insurance coverage to all citizens, ensuring financial security and protection for their families.
2. Revenue Surge and Fiscal Landscape: Rio highlighted a surge in revenue, primarily driven by GST, due to the absence of significant state-owned resources. He emphasized the state’s consumer-driven economy and the pivotal role of GST in shaping its fiscal landscape. This surge in revenue has provided the government with the necessary resources to implement welfare schemes and address key challenges.
3. Exploration of Natural Resources: The budget underscores Nagaland’s untapped potential in natural resources, including petroleum reserves and mineral deposits like cobalt. Plans for exploration, facilitated by governmental consultation and external support, are underway to unlock this latent wealth. Collaborative efforts with industry experts and consultations with local communities form the cornerstone of this endeavor.
4. Challenges in the Energy Sector: Rio acknowledged challenges in the energy sector, including significant expenditure on power procurement and annual losses due to power theft and non-payment of bills. He emphasized the importance of collaborative stakeholder engagement to mitigate such losses and ensure sustainable progress in the energy sector.
5. Urban Local Bodies Polls: The State government is gearing up for the Urban Local Bodies polls, with e-roll revision underway. Rio clarified that the polls will be held after the Lok Sabha polls to avoid scheduling conflicts.
6. Unresolved Political Issues: Rio identified unresolved political issues, prohibition under NLTP, and the ban on logging operations as factors hampering the state’s revenue growth. He highlighted the Centre’s role in mitigating these losses by allocating revenue deficit grants to the state.

FAQ

1. What is the Chief Minister’s Universal Life Insurance Scheme?
   • The Chief Minister’s Universal Life Insurance Scheme is a comprehensive life insurance coverage initiative introduced in the 2024-25 budget. It aims to provide financial security and protection to all citizens of Nagaland and their families.
2. How is the budget addressing challenges in the energy sector?
   • The budget acknowledges challenges in the energy sector, including significant expenditure on power procurement and annual losses due to power theft and non-payment of bills. The government emphasizes collaborative stakeholder engagement to mitigate such losses and ensure sustainable progress in the energy sector.
3. What steps are being taken to explore Nagaland’s natural resources?
   • The budget highlights plans for exploration of Nagaland’s natural resources, including petroleum reserves and mineral deposits like cobalt. These efforts are facilitated by governmental consultation, external support, and collaborative efforts with industry experts and local communities.
4. When will the Urban Local Bodies polls be held?
   • The Urban Local Bodies polls will be held after the Lok Sabha polls to avoid scheduling conflicts, with e-roll revision currently underway.

Conclusion

Neiphiu Rio’s ‘people-centric’ budget for the fiscal year 2024-25 reflects a comprehensive approach towards addressing the needs and aspirations of the citizens of Nagaland. Through innovative initiatives, strategic resource allocation, and collaborative efforts, the government aims to foster sustainable development, ensure financial security, and mitigate key challenges facing the state. With a focus on inclusive growth and citizen welfare, Rio’s budget sets a promising path for the future of Nagaland.