Lalsawta explained that he could not present the full budget during the budget session in March and was compelled to seek vote-on-account for two times for a period of eight months due to late finalisation of the state annual plan outlay for 2014-15.
The budget, presented in the state Assembly, has provisioned Rs 3,140 crore under plan outlay and Rs 3,630.79 crore under non-plan expenditure.
The fund is expected to be received under Non-Lapsable Central Pool of Resources (NLCPR), Centrally Sponsored Scheme (CSS) and North Eastern Council (NEC) now allocated in the plan fund since the past one year.
The closing deficit for the current financial year was estimated at Rs 608.39 crore as against the opening deficit of Rs 357.18 crore. He did not announce any new tax.
In his budget speech, Lalsawta spoke about the acute financial difficulties being faced by the state and stressed on the importance of following strict austerity measures.
NLUP or the New Land Use Policy, the flagship programme of the Congress government in the state led by Chief Minister Lal Thanhawla, continued to be the top priority of the state government. As much as Rs 317.32 core were earmarked for implementation of the programme during the current fiscal, he said.
He said 1.35 lakh families would be benefited under NLUP which aimed at giving sustainable livelihood by engaging in different activities including agriculture and allied services, industries and forest-based income generating activities.
Lalsawta was the first finance minister to deliver budget speech in Mizo language for the second time.