Kohima, Mar 1 (PTI) The Nagaland assembly on Friday passed the 2024-25 state budget for Rs 23,727.87 crore by voice vote.

It was passed after the members approved the demand for grants for the next fiscal year.

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Rio, who also holds the finance portfolio, asserted that it is a “people-centric budget”.

The new initiatives introduced in the budget include the 'Chief Minister's Universal Life Insurance Scheme', a provision of Rs 40 crore for innovative ideas and projects that have transformative potential, facility of collateral-free loans to entrepreneurs in the micro and small enterprises sector, setting up of an integrated business hub and a skilling centre, officials said.

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(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)