Fund crunch set to greet new Government
Source: The Sangai Express
Imphal, February 28 2012:
With the incumbent Government already facing paucity of funds, the new Government which would be formed by March 15 would be greeted by a severe fund crunch.
An official source informed that only Rs 20 to 30 crores are left in the exchequer of the State Government as of now.
The Government would face severe financial difficulties starting from next month.
Even if the Government's account does not deplete to zero balance, the financial condition of the State has already become very sick.
The State Government is speculating how much it would get from the Central pool by the beginning of next month.
The State's expenditure multiplied manifold following implementation of the 6th Central Pay with regard to State Government employees.
The State's financial situation would become clear after paying Rs 200 crores as monthly pay for the month of February to 68,000 employees of the State which would be released before March 15 .
Out of the amount which the State would get from the central pool, Rs 10 crores would be deducted at source for purchasing power, informed the source.