TODAY -

Nirmalaji's interest-free loan

Free Thinker *



The budget announcement of “interest-free loans for 50 years” is real nectar for us in this ‘Amrit Kaal’. Rupees 1.3 lac core is earmarked for this. We should jump upon it. We can’t remain silent spectators.

Nirmala ji is quite close to our Chief; actually, she made him the Chief(I mean announced). So, we have high hopes that we shall get a lion’s share. Now, a hyper-active team may be constituted to run after this interest-free loan (for capital expenditure).

FM says that the States must come up with proposals and set it rolling; she also said that the loan offer can be used by the States for their own preferred projects. Certainly, a Unity Mall can be constructed at the state capital to promote and market the State products (one district, one product type).

We are a poor State; in the near future, we are going to be very rich. Infrastructure development and building connectivity shall be the base for our prosperity. We must set up infrastructure and connectivity to lead us to prosperity.

But we don’t have the resources or financial power to push huge infrastructure and connectivity development; it is not only about roads but also about the power supply, hotels, godowns, factories, etc. The train is reaching Imphal; we need good roads from commercial hubs for linking to the train stations so that the business is done without bottlenecks.

Hon. FM in her budget presentation indicated that States can take interest-free loans from April onwards. A corpus fund of more than 100 cores has been earmarked for this. They may avail of the loan for their capital expenditure i.e., for the construction of highways, warehouses, hospitals, schools, malls, buildings, etc. If the proposals are in order the loans will be sanctioned instantly.

State financial managers must take note of this offer. This is a golden opportunity for us. The most attractive part of this financial bonanza is that the loan is interest-free. Hon. CM is also the in-charge of State Finance and so, he must take the initiative to do the needful. The concerned bureaucrats must be alerted and must be made agile enough to get the maximum from this magnificent offer.

Even the rich states will take advantage of the new loan scheme of the Central Government. Because it is interest-free and at the same time it is for 50 years. Obviously smarter States will get the maximum benefit from this. I strongly believe that Manipur has persuasive skills. Our leaders will be able to manoeuvre in Delhi. If we get these loans our State can do a lot of things in infrastructure building and asset creation.

Nirmala ji has made it clear that this will be disbursed much faster than ever. As we have entered the Amrit Kaal this loan facility will certainly produce good results everywhere in the country. Hopefully, almost all the states including Manipur will do good things for further growth and progress.

The Fiscal Responsibility and Budget Management (FRBM) Act is not strictly followed these days because the financial condition of all the States including the affluent States is in very bad shape due to the Covid pandemic; only this year there are some signs of improvement.

Until and unless the economic health of the States improves to a satisfactory level the FRBM may be kept in abeyance. Strict compliance with FRBM is not possible for the time being, even for the richest States.

The proposed fifty-year loan is actually to push the center’s ambitious capital expenditure (capex) plan. 10 lac core is the amount earmarked for this capex thrust. The States are also showing interest in asset-building and infra-building. The indication so far is that the affluent States are taking more active participation. Perhaps this interest-free loan for 50 years may trigger growth based on capital expenditure.

We may request the Hon. Finance Minister that this interest-free loan may be allowed to be used for the repayment of the loans (bearing interest) borrowed from Banks and Financial institutions. That way we would be able to save a lot of money. We understand that the primary purpose of this interest-free loan is meant for capex.

Considering the feeble financial factors of the tiny State, Sitharaman ji may consider the proposition; of course in consultation with the PMO. The interest payment is a humongous burden for the State which depends on borrowings and aid. The interest payment on the market borrowings is indeed a major headache. A major chunk of our finance goes toward interest payments on existing loans. Forget about repayment of the principal loan amount.

If the Union government allows us to use this interest-free loan to repay the interest-bearing loans, it will be a great relief. It applies to all economically weaker and financially fragile States. “replacing the old political … ”, Nirmala ji. Can’t it be old political parties or old political ideologies, or old political families instead of ‘old polluting vehicles’ Madam ji? Because I am still having one.


* Free Thinker wrote this article for The Sangai Express
This article was webcasted on February 09 2023 .



* Comments posted by users in this discussion thread and other parts of this site are opinions of the individuals posting them (whose user ID is displayed alongside) and not the views of e-pao.net. We strongly recommend that users exercise responsibility, sensitivity and caution over language while writing your opinions which will be seen and read by other users. Please read a complete Guideline on using comments on this website.




LATEST IN E-PAO.NET
  • 11th Th Kishan Memorial Lecture : Gallery
  • Violence in Manipur 2023-2025 : Timeline
  • Shinthoibi, Jangvei, Tamphaton : eMing
  • Manipur crisis & the Left media's blind spot
  • COVID-19: Update 01 July 2025 : Manipur
  • Bombom RK : Musclemania Universe NYC
  • The Grief :: Poem
  • Music Concert & Quiz (MCQ) 2.0
  • SoO agreement unlikely to be scrapped
  • Regulating use of plastic carry bags
  • Mera Houchongba @Kangla #4 : Gallery
  • International Day of Yoga @JNMDA : Gallery
  • BD Behring: The inimitable Gentleman I knew
  • Violence in the name of patriotism : Misguided
  • Daily oral vs long-acting injectable for HIV
  • COVID-19: Update 30 June 2025 : Manipur
  • Smile :: Poem
  • Why was President's Rule imposed ?
  • BJP under pressure to forge unity
  • Kang @Leikai in Imphal : Gallery
  • July Calendar for Year 2025 : Tools
  • COVID-19 : A recurring crisis in Manipur
  • DC Kaith and Forestry in Manipur : Book
  • COVID-19: Update 29 June 2025 : Manipur
  • Longing for Peace :: Poem
  • Black badge, slogan protest by peeved scribes
  • Present the true picture before Delhi
  • Pung-Cholom @ Polo Tournament : Gallery
  • Life: A Journey Through Thought & Being
  • Khongjai Hills & Kuki claim to indigeneity
  • Master Time by Managing Information
  • COVID-19: Update 28 June 2025 : Manipur
  • Pride & patriotism in CCpur's army families
  • The Power of Poppy - 87 :: Poem
  • World Decarbonisation Day: green environment
  • Welcome Home - Nganthoi #2 : Gallery
  • Loss of two precious lives from Manipur
  • Balancing civil liberties with public safety
  • COVID-19: Update 27 June 2025 : Manipur
  • Gender equality & human rights are indivisible
  • Stay hydrated this summer season
  • Silent Half of the Sun :: Poem
  • Connecting the dots in the wishlist
  • Assembly record tampering claims by ex-CM
  • The immortal legacy of Pukhramba Kajao
  • International Day against Drug Abuse 2025
  • COVID-19: Update 26 June 2025 : Manipur
  • Black pottery from Ukhrul - tribal heritage
  • Program on "Mission-Drug Free Campus"
  • Play makes a better world
  • Urgent Appeal to the Honourable MLAs
  • Tribal Empowerment Campaign at CCpur
  • Talk doing the round: PM to come
  • 'Emergency' relief for under-fire BJP
  • Golden Jubilee Art Fair @Imphal : Gallery
  • Declaration: Meetei People Convention, Delhi
  • A Flower Among the Rocks :: Review
  • Book Donation Campaign
  • Improved road connectivity boosts livelihoods
  • To Have Great Dreams :: Poem
  • COVID-19: Update 25 June 2025 : Manipur
  • Regret vs Sorry: Technical & moral insight
  • Cocktail of inept Govt, selfish people
  • State trailing others in cleanliness
  • Colonial Knowledge in NE India #6
  • UHI effect & rising temperatures in Manipur
  • Frequent road blockades cripple economy
  • COVID-19: Update 24 June 2025 : Manipur
  • Unite Health with Community health services
  • NSU, Imphal, tops IIRF Ranking 2025
  • Endless conflict :: Poem
  • Pak nobel pish prize for Trump
  • May 3, 2023 - June 24, 2025: Failure of Delhi
  • Hotter days, sudden rainfall no more a rarity
  • "The Great June Uprising" #2 : Gallery
  • How to Build a Career, Lead with Purpose
  • 2nd Foundation Day- Karnataka Meitei Assn
  • COVID-19: Update 23 June 2025 : Manipur
  • NSCN-IM Amnesty threatens to isolate it
  • Sunset :: Poem
  • Intl Yoga Day for a healthier environment
  • Of clogged drains and plastics
  • Poor roads testify Govt indifference
  • Welcome Home - Nganthoi #1 : Gallery
  • The Silent Erosion of Manipuri Language
  • Design health services around people
  • Serene Hills Host Inspiring Int'l Yoga Day
  • COVID-19: Update 22 June 2025 : Manipur
  • Chopper services between Senapati & Imphal
  • High Court Judges interacted with convicts
  • Redyeing the Fabric :: Poem
  • Differences yet to be resolved stand
  • Border fencing rage as solution eludes
  • Radio E-pao: 14 new songs updated
  • Climate Adaptive Agroforestry
  • Manipur overlooked demographic shifts
  • Young designers shine on Fashion Stage
  • COVID-19: Update 21 June 2025 : Manipur
  • International Day of Yoga at Lamphelpat
  • International Day of Yoga at JNMDA
  • The Power of Poppy - 86 :: Poem
  • Keishampat Lairembi Haraoba #1 : Gallery
  • Crisis in Manipur's Contemporary Education
  • Best 8 Performances in Manipuri Cinema
  • Identity: Caught between China & India ?
  • COVID-19: Update 20 June 2025 : Manipur
  • To The Father Who Listens :: Poem
  • How does net suspension affect youths ?
  • Targeting farmers to cripple state's economy
  • The virus is back and spreading
  • Who is afraid of Manipur ?
  • A threatened lily growing at Shirui Hills
  • World Environment Day in Manipur : Gallery
  • Ambubachi Mela at Maa Kamakhya
  • COVID-19: Update 19 June 2025 : Manipur
  • Dolls made from repurposed vegetable refuse
  • Condemns Attack on Farmer & Killing
  • Abhorrent politics of SoO
  • Police arrogance on harmless drivers
  • "The Great June Uprising" #1 : Gallery
  • Solution from Buddhist & Jain perspectives
  • AI sparks employment concerns in Manipur
  • Greatest Foe :: Poem
  • Chief Justice at Relief Camp, Kangpokpi
  • Call for Recognition of a 3rd Category of IDPs
  • Jun 18, 2001- May 3, 2023: Seed of violence
  • Contract scam in hill districts
  • Colonial Knowledge in NE India #5
  • Spaced Out - Panthung Di Kadaaida! : Rvw
  • Condemns the Killing of Abdul Qadir
  • COVID-19: Update 17 June 2025 : Manipur
  • Thoubal aspirant makes Manipur proud
  • Tamenglong hospital brings quality healthcare
  • Chief Justice at Relief Camp, Mayang Imphal
  • Kuki CM & Sixth Schedule
  • Selective protests, selective silence
  • Nailing the culprits need of the hour
  • UK Meetei diaspora run for Myanmar : Gallery
  • Erwin Khundrakpam : NEET-UG 2025 topper
  • Will we rise to #endAIDS challenge or stumble
  • COVID-19: Update 16 June 2025 : Manipur
  • Appeal to Prime Minister: Manipur Crisis
  • Urges Action on Misinformation
  • Condolences : 2 young cabin crew
  • Grateful To Be Alive :: Poem
  • Making bonfire on the roads
  • Aggression yet again, inspite of playing victim
  • Aftermath of flooding @ Khurai #2 : Gallery
  • Zomia, geopolitics, & the struggle for unity
  • COVID-19: Update 15 June 2025 : Manipur
  • Condolences : Demise of 2 Manipuri Girls
  • Manipur unites in grief after Air India tragedy
  • Hail arms recovery as step toward peace
  • Cleanliness Drive at JNIMS Campus
  • Global Wind Day for a clean environment
  • First came the rain, then the heat
  • Rise in Covid-19 cases
  • Thang-Ta Day @Khuman Lampak #3 : Gallery
  • Meetei diaspora in UK runs for Myanmar victim
  • Manipur empower children with disabilities
  • COVID-19: Update 14 June 2025 : Manipur
  • World Blood Donor Day 2025
  • The Power of Poppy - 85 :: Poem
  • A Northeast Gin Makes Its Mark
  • Mera Houchongba @Kangla #3 : Gallery
  • Saluting Nganthoi, Lamnunthem : Joining hand
  • Condolence : Nganthoi & Lamnunthem
  • From Earth Day to World Environment Day
  • COVID-19: Update 13 June 2025 : Manipur
  • JJM brings clean drinking water to CCpur
  • M.Tech CSE Admission at Assam University
  • Save your nails from damage this summer
  • No takers for Moreh cops' distress call
  • 50 years of Pebet #2 : Gallery
  • Implement Hill Areas (Chief Rights) Act 1967
  • Manipur fields shape India sport future
  • How to Speak Soft and Still Win
  • Thokchom Khoiba : mosquito killer machine
  • Looking for wealthy groom, question you too
  • When is the net ban going to be lifted
  • Stir speculations nix school reopening plan
  • Indo-Naga Talks (From 2012) :: Timeline
  • Colonial Knowledge in NE India #4
  • Namphake Monastery @ Dibrugarh : Gallery
  • Fire safety: preventive measures
  • Peculiar plants & incidents unique to Manipur
  • Artificial Intelligence & environment
  • Cutting off the nose to spite the face
  • Relief for daily wagers as shutdown called off
  • Protest @Checkon -AT arrest [Jun 9] : Gallery
  • The question of territorial integrity of Manipur
  • Animal Farm's allegory in dynamics of Manipur
  • Their hands deserve books, not burdens
  • JNV empowers Tamenglong students
  • We can do better- people with HIV live healthy
  • Bandh: The Cry Beneath the Silence :: Poem
  • Cutting short 240 hours general strike
  • Shutdown lifted, curfew eased, mobile ban
  • Protests - AT arrest [Jun 8 night] : Gallery
  • Review of 'Rain Stopping in Manipur'
  • Highway blockades trigger soaring prices
  • Voice of the Masses :: Poem
  • Congress may claim if none
  • Learning new skills related to AI
  • Delhi, Raj Bhavan: Losing the plot ?
  • CBI arrest after Governor clemency assurance
  • Aftermath of flooding @ Khurai #1 : Gallery
  • Appeals Home Minister not to renew SoO
  • Self-defence :: Poem
  • When will humans learn nature's lessons ?
  • Forgotten voices of drug users in Manipur
  • High-yielding RC Manichakhao-1
  • PC Editorial Blank Space : June 09 2025
  • TSE Editorial Blank Space : June 09 2025
  • Flooding at JNIMS Hospital #2 : Gallery
  • North East NSS Festival @ MU : Gallery
  • 27th Meira Paibi Numit : Gallery
  • Micromanager vs Leader
  • Valedictory Function of NE NSS Festival
  • WED at various campuses in Manipur
  • World Environment Day 2025
  • Trump's tariff legacy & its global echo
  • Flooding at JNIMS Hospital #1 : Gallery
  • Flooding Imphal East [31 May] #3 : Gallery
  • Flooding Imphal East [31 May] #2 : Gallery
  • Flooding Imphal East [31 May] #1 : Gallery
  • Sarangthem Nirupama at Miss Universe India
  • S Nirupama @Miss Universe : Gallery
  • Protesters to Raj Bhavan [May 25]: Gallery
  • Human Chain @Airport road [May 26]: Gallery
  • Miss Shirui Pageant Contestant: Gallery
  • 48 hrs Bandh: protest security forces: Gallery
  • Protest Rally: Journalist harassment: Gallery
  • HSLC 2025: Full Result (Check Roll No)
  • HSLC 2025: Important Info & Grading System
  • HSLC 2025 : Compartmental candidates
  • HSLC 2025 : Comparative Statement
  • HSLC 2025 : Statistical Abstract
  • HSLC 2025 : District Pass Percentage
  • HSLC 2025 : Govt School Pass %
  • HSLC 2025 : Aided School Pass %
  • HSLC 2025 : Private School Pass %
  • People's Convention on 3rd May #2 : Gallery
  • Featured Front Page Photo 2025 #2: Gallery
  • Riya Khwairakpam : HSE Science Topper
  • Keisham Hannah : HSE Arts Topper
  • Warepam Lidia : HSE Commerce Topper
  • HSE 2025 Result : Science Full Result
  • HSE 2025 Result : Arts Full Result
  • HSE 2025 Result : Commerce Full Result
  • HSE 2025 Information / Abbreviation
  • HSE 2025 Topper : Science
  • HSE 2025 Topper : Arts
  • HSE 2025 Topper : Commerce
  • HSE 2025 : Pass Percentage
  • HSE 2025 : Result Abstract
  • HSE 2025 : Candidates with Highest Marks
  • Ougri Lirol :: Part 1 : Ooba Video
  • President's Rule in Manipur : 1967 - 2025
  • Downloadable Manipuri Calendar :: 2025