RBI’s handling of fiscal challenges: Mizoram’s prudent reserve fund stands strong at 900 cr

Mizoram’s Economic Harvest: CM Lalduhoma Reveals Impressive Cash Balance

Mizoram’s cash reserve stood strong as Chief Minister Lalduhoma announced that the state government will retain a staggering sum of over Rs 900 crore with the Reserve Bank of India (RBI) at the end of the current financial year. This impressive cash balance is a testament to the efficiency of the state’s financial management, with CM Lalduhoma commending the finance department and treasury officials for their hard work.

The announcement came on the last day of the fiscal year, as Laducoma visited the Aizawl South and Aizawl North treasuries to oversee financial operations and assess the state’s cash balance. Accompanied by his spouse, Liansailovi, the CM praised the finance department and treasury officials for their efforts in managing state finances and ensuring timely settlements. “In spite of significant expenses incurred to clear liabilities, we have managed to retain a cash balance of over Rs 900 crore with the RBI. The cash balance for the 2023-2024 fiscal was Rs 500 crore,” Laducoma stated, noting that the final balance would be confirmed by April 1.

The CM also highlighted the success of the Zoram People’s Movement (ZPM) government under his leadership, which has managed to successfully clear all pension charges, release provident funds to applicants, and settle medical bills. This feat is a significant achievement, given the significant expenses incurred to clear liabilities.

The move is expected to have a positive impact on the state’s economy, providing a stable foundation for future growth and development. It is a testament to the effective management of the state’s finances, ensuring the availability of funds for vital public services and infrastructure development.

In conclusion, the impressive cash balance retained by the Mizoram government is a significant achievement, demonstrating the effective management of the state’s finances. It is a promising sign for the state’s economic future, providing a stable foundation for growth and development. As the CM looks to the future, the people of Mizoram can be confident in the state’s ability to manage its finances effectively, ensuring a bright economic future.

Original Source: https://timesofindia.indiatimes.com/city/guwahati/mizoram-retains-900cr-balance-with-rbi-despite-fiscal-challenges/articleshow/119820547.cms
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Publish Date: 2025-04-01 00:11:00