Kohima (Nagaland) [India], March 7 (ANI): Chief Minister Neiphiu Rio presented the state budget for the year 2025-26 in the Nagaland Assembly and called it a budget for new initiatives.Rio, who also holds the finance portfolio presented the deficit budget of Rs 843.21 crore for the year 2025-26, a release said.Addressing the media after his budget speech at the Nagaland Legislative Assembly on Thursday, Rio said that the budget for 2025-26 was a budget for new initiatives. He described the budget as balanced, with expenditure and receipts being equal; while demand remains high, the receipts and balance are positive. The budget benefits from a strong financial position and introduces new initiatives, the release said. In his budget statement, he estimated the gross receipts at Rs 25,849.01 crore and gross expenditures at Rs 24,699.01 for the financial year 2025-26. However, he said, due to the negative opening balance, the year 2025-26 is estimated to close with a negative balance of Rs 843.21 crore.The state budget also introduced new initiatives of the state government. Rio said that the state government would launch a special initiative under the Nagaland Skill Mission to train and provide employment opportunities for at least 5,000 youth in sectors of hospitality, tourism, banking and insurance, construction, healthcare, logistics and drone sector, and added that the Naga entrepreneurs must lead in job creation for which Rs 5 crore has been allocated. He further said that the state government is also launching the Nagaland Tourism, Hospitality and Transport Scheme facilitating concessional loans to entrepreneurs to set up 500 homestays and 200 tourist Transport vehicles. Rio also added that the state government will launch the Drone Training and Logistics Program where an amount of Rs 2.50 crore has been earmarked. The state government will also launch the Chief Minister's Fellowship Programme with Rs 2.50 crore earmarked under it. The CM further said that to revitalize and preserve the culture, tradition and knowledge systems of Nagaland, the Living Morung Initiative by the Department of Art and Culture will be implemented with Rs 5 crore. Adding to the initiatives, Rio said that the Nagaland Solar Power Mission with an outlay of Rs 10 crore had been earmarked which would encourage rooftop installations under PM Surya 'Ghar Muft Bijli Yojana.' Further, Rio said that the total developmental outlay including CSS is Rs 5819.24 crore, the state development outlay from the state's own resources is Rs 1,200 crore, which is an increase of Rs 190 crore, constituting a growth of 18. 81 per cent over the financial year 2024-2025.The CM also said that the Konyak Heritage Complex was all set to be inaugurated on April 5th and would coincide with the Aoleang festival of the Konyak tribe at Mon district, Nagaland. He said that the heritage complex is a multi-disciplinary complex aimed at boosting the tourism, culture and livelihood sector, where all the nine MLAs of the constituency were building traditional Morungs each using traditional designs and materials. The major components under the project are Nine Morungs, Angh House (museum), Amphitheatre and indoor stadium administrative and residential facilities, hanging bridge and lake, helipad and public park, multi-Purpose hall and open air ground along with rostrum.The project is considered a permanent heritage site, though similar developments for other tribes may not be feasible, the proximity to town makes it an accessible cultural landmark, Rio remarked. (ANI)