March 2, Kohima: The Governor of Nagaland, Ajay Kumar Bhalla, stated that his government has initiated discussions with the Government of India to develop a state-specific policy for the exploration and production of petroleum and natural gas in Nagaland.
Delivering his inaugural address on the first day of the 8th Assembly Session today, the Governor stated that while the scale and scope of the state's developmental activities have grown significantly, the demand for greater financial resources has also increased to translate aspirations into reality.
He noted that Nagaland has remained a resource-constrained state with an urgent need to expand its own revenue base.
Emphasizing the importance of responsibly harnessing the state's rich natural resources, particularly its untapped petroleum and natural gas reserves, the Governor stated that these resources have remained unexplored for decades.
In this regard, Mr. Bhalla said that the State Government has taken up with the Centre to evolve a state-specific policy for exploration and production, while fully respecting the special constitutional provisions applicable to Nagaland.
The Governor also highlighted other substantial mineral resources in the state, including coal, nickel-cobalt-chromium bearing magnetite, and limestone deposits.
He said that the scientific and sustainable development of these resources presents significant opportunities to enhance state revenues, promote industrial growth, generate employment for youth, and accelerate overall economic development.
Calling for collective cooperation, the Governor urged all stakeholders to work together to build sustainable and self-reliant sources of revenue for the state.