State recovers from overdraft
Source: Hueiyen News Service
Imphal, May 04 2012:
With the Centre dispensing the funds for the first quarterly advance for April to June, the shadow of overdraft cast over the state has gone and some of the government employees have even started receiving their salaries for the month of April.
According to reports received from the Finance Department, the Central government has released the funds in three installments for the first quarterly advance in April.
For the first installment, an amount of Rs 97 crores, Rs 65 crores for the second installment and Rs 144 crores for the third installment have been released.
The second installment was released under the normal central assistance while the third installment was released as non-plan revenue deficit grant by the central government, the source added.