Plan amount revised, reduced
Source: The Sangai Express

Imphal, March 29 2012: Owing to the unhealthy financial condition of the State, annual plan amount for the current fiscal year has been revised to Rs 2940 Crore reducing it by Rs 470 Crore from the fixed plan amount of Rs 3210 Crore.

With only 36 per cent of the fixed plan amount utilised till the completion of January this year, it is unlikely that the State can utilise the full annual plan amount, said an official source.

Saying that State Finance Department releases fund in accordance with the release of fund from the Centre, the source added, although, only a few days are left to end the current fiscal year, the annual plan amount has been revised considering the bad economic condition of the State.

It is mandatory to deposit more than half of the amount released from the Finance Department in the Government's account, added the source.

However, in a welcome development, the source said that the Planning Commission has permitted the Ministry of Finance to release Rs 118.51 Crores to the State.

In a meeting with Chief Secretary DS Poonia this evening, Expenditure Secretary in the Union Finance Ministry and senior officials of Planning Commission have also permitted the release of Rs 58.51 Crore under SPA.

It includes works at JNIMS and Rs 40 Crore for tribal area project and Rs 20 Crore for the construction of a directorate complex.

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