Nagaland has the second highest debt in the Country.
This was stated by the 15th Finance Commission in its report titled – ‘Finance Commission in COVID times’.
Ready for a challenge? Click here to take our quiz and show off your knowledge!
Nagaland’s debt/GSDP is much higher than the National Health Education Standards (NEHS) average of 29.61%.
However, Nagaland’s debt/GSDP reduced from 55.5% in 2011–12 to 42.7 in 2018–19.
In its report, the 15th Finance Commission also stated that Nagaland needs to “restructure and rationalise its expenditure priorities”.
Ready for a challenge? Click here to take our quiz and show off your knowledge!
Nagaland’s capital expenditure declined between 2011–12 and 2018–19, both as GSDP percentage (from 10.3% to 5.9%) and total expenditure (20.4% to 12.8%).
The 15th Finance Commission also noted that Nagaland needs to undertake steps to cut its committed expenditure burden and make space for resources for development expenditure.
Also read: Nagaland CM Neiphiu Rio takes charge as new Chairman of North East Regional Power Committee
The 15th Finance Commission also stated that Nagaland needs to reduce its infrastructure deficit by increasing capital expenditure and finding alternate sources of funding.
“The State needs to ensure that the benets of economic growth trickle down to all sections of society,” the 15th Finance Commission report stated.
As per the Ranking in NITI Aayog’s Sustainable Development Goals Index (2019), Nagaland is placed 19th out of 29 States.
The 15 Finance Commission has recommended Total Transfers for Nagaland amounting to Rs 47812 crore under various heads.
Also read: PM Narendra Modi to lay foundation of two medical colleges during Assam visit