Nagaland CM Rio seeks over Rs 40,000 cr from 16th Finance Commission

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Nagaland Chief Minister Neiphiu Rio on Tuesday sought grants amounting to over Rs 40,000 crore from the visiting 16th Finance Commission to compensate for the capital deficit.

Addressing a meeting with the members of the Commission here, Rio also appealed to the Commission to work out an arrangement that will keep the northeastern state in good financial health to make it an important player in the nation's journey of progress and development.

Projecting some of the requirements, Rio said Rs 9,000 crore and Rs 865 crore are needed to construct a 364 km highway along the state's border with Assam and an airport at Ciethu near here, respectively.

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Category: BusinessFinance

Markets: India

Topics: Finance Commission Neiphiu Rio Nagaland Capital deficit

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News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-05 @ 22:30:51 (7 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 512 words

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Sentences: 16 lines

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News ID: 23435035

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