Mizoram chief minister Lalduhoma on Tuesday presented a ₹15,198.76-crore state budget for 2025-26, with special emphasis on the implementation of the government’s flagship policy — the Bana Kaih Scheme — with an allocation of ₹350 crore.
Lalduhoma, who also holds the finance portfolio, highlighted his government’s initiatives to enhance tax revenue without imposing new taxes. “My government will not impose new taxes but will strengthen tax revenue generation. The tax department is understaffed, and my government has already created new posts and plans to fill up vacancies to enhance tax collection,” he said.
The state’s own revenue is estimated to constitute 11.42% of the total revenue receipt. The aggregate estimated amount of the state’s own tax and non-tax revenue for the fiscal year 2025-26 is ₹2,616.33 crore, reflecting a 20.21% increase over the previous fiscal year.
Lalduhoma provided an overview of the state’s financial position, stating that the debt-to-GSDP ratio for 2024-25 (BE) is projected at 29.22%, with accumulated outstanding debts amounting to ₹14,034.76 crore. He further mentioned that the revised estimates (RE) for 2024-25 show outstanding debts at ₹13,030.82 crore, which is ₹1,003.94 crore lower than the budget estimates (BE) for the same year.
The CM acknowledged a significant increase in the fiscal deficit, stating that it aligns with the state’s commitment to an accurate GSDP tally. He emphasised that this move is necessary to reconsolidate the financial institutions of Mizoram.
{{/usCountry}}The CM acknowledged a significant increase in the fiscal deficit, stating that it aligns with the state’s commitment to an accurate GSDP tally. He emphasised that this move is necessary to reconsolidate the financial institutions of Mizoram.
{{/usCountry}}The Gross State Domestic Product (GSDP) for 2024-25 (BE) was initially estimated at ₹48,037.52 crore. However, the government recognised issues arising from over projected GSDP figures and adopted a more realistic approach. With the revised calculation, the GSDP for 2024-25 (RE) now stands at ₹34,003.27 crore, reflecting a decrease of ₹14,034.25 crore compared to the initial estimate.
“The decline in estimated figures compared to previous estimates does not indicate economic stagnation. The economy is still projected to grow at 10.21% during the fiscal year,” Lalduhoma said.
Calling it a “common man’s budget”, the CM reassured the people of Mizoram that the overall financial health of the state remains stable. “Though the budget reflects decreasing data in fiscal parameters, we have allocated more funds for the common people and the state’s development than in previous budgets,” he said.
Alongside the main budget, Lalduhoma also presented ₹3,476.21-crore supplementary demand for grants for the fiscal year 2025-26.