Govt looks towards economic recovery
Source: The Sangai Express
Imphal, January 20 2013 :
Even as the State Government is unable to utilise any substantial percentage of the plan amount due to weak financial position of the State, the Government is hopeful that the State would see recovery of its economic condition from next week.
The Government has already estimated that the plan amount would be utilised by 25 to 30 per cent by the end of the current month.
A high-ranking official of the State Government informed that the Finance Ministry would release Rs 345 crore for Accelerated Irrigation Beneficial Project next week.
This would ameliorate the financial difficulties being faced by the State Government to some extent.
The new development is a result of the recent meeting between the Chief Minister and the Union Finance Minister during which the former urged to release the stated amount for the particular programme.
Before his trip to New Delhi, Chief Minister O Ibobi had given his approval to release necessary funds for SPA, NLCPR, NEC and CSM.
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Finance Department has already released Rs 250 crore during the current month and it is estimated that 25 to 30 per cent of the plan amount would be utilised by the end of the current month.
The State Government is also hopeful that 70 per cent of the plan amount can be utilised by March 31 this year.
Acting on the recommendations of the Planning Commission to the Finance Ministry to release Rs 282 crore for SPA, the Chief Minister is putting up at New Delhi to meet officials of the Ministry on the matter.
However, the situation is such that the Centre is unlikely to release the full plan amount of the current fiscal which was fixed at Rs 3500 crore, informed the official.