Nagaland's economy down to Rs 1013.11 crore due to COVID-19: CM Neiphiu Rio
Nagaland Chief Minister Neiphiu Rio informed the Assembly that the COVID-19 pandemic has dragged down the state's incomes to the tune of Rs 1013.11 crore during 2020-21.
While making the concluding remarks on the discussion on urgent public importance pertaining to post COVID-19 economic recovery of Nagaland, Rio said that the COVID-19 pandemic has been highly disruptive.
Lockdowns and restrictions that have led to a sharp decline in economic activities at the global and national level, has also not spared the state of Nagaland, he said.
"From 7.43 per cent growth during 2019-20, the state's economy is anticipated to register a negative growth of -5.59 per cent (Advanced Estimate) during 2020-21. In absolute terms, the contraction in the state economy is anticipated to the tune of Rs 1013.11 crore during 2020-21," the chief minister said.
CM Rio said that it is important to look beyond the pandemic and form a future with "high rates of sustained economic growth and better income levels for the citizens".
He emphasised the need to focus on saving livelihoods as well as lives during tough times.
In 2021, the State Plan size was Rs 639 crore on which a pro-rata cut of 15 per cent was applied, decreasing the plan size to Rs 572 crore, he said.
However, for the current financial year, the state plan size has been enhanced to Rs 700 crore which is an increase of over 22 per cent over the revised State Plan outlay of last year, the chief minister informed.
(Edited by Aparmita Das)
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