FY 2013-14 begins on Rs 90 crore deficit
Source: The Sangai Express

Imphal, April 02 2013: Financial year 2013-14 which is the second year of the O Ibobi-led third consecutive Government started on April 1 with a deficit of Rs 90 crore.

Meanwhile, it is reported that the State's Plan outlay for the current FY would be decided at New Delhi on April 23 .

A reliable source said that the State Government was informed by RBI that it has notched up a Rs 90 crore deficit on account of withdrawal of funds by different departments till March 31 .

Notably, the last FY started with much greater budget deficit of Rs 400 crore because of which the State's financial condition got bogged down miserably.

The current deficit of Rs 90 crores can be made up/paid back out of the funds sanctioned by the Centre for the State on monthly basis.

Despite the deficit of Rs 90 crore, RBI has not yet imposed any restriction on drawing funds.

Meanwhile, it is reported that the State's Plan outlay for 2013-14 would be decided between Chief Minister O Ibobi and Planning Commission Deputy Chairman Montek Singh Aluhwalia on April 23 at New Delhi.

In addition to informing the State Government for finalising the Plan size, the Planning Commission has also sought details of the State Government officials who would accompany the Chief Minister.

Notably, the State Government has been proposing a Plan outlay of Rs 4398.43 crore which is greater than the last fiscal's plan size by 25 per cent.

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