Source: The Imphal Free Press
Imphal, October 18:
The state government's overdraft with the Reserve Bank of India, RBI, has been wiped out following the release by the Centre of the state's monthly entitlement of funds.
The state's overdraft, which stood at Rs 96 crores at one point, had already been reduced to Rs 38 crores in the last few days.
However, it is unlikely that government salaries and pensions will be paid just yet.
According to finance department sources, even though the RBI may have lifted its restrictions, the state government has decided not to allow encashment of government cheques and bills until November 1.The sources also said that all efforts were being made to be able to pay salaries and pensions for both September and October in the first week of November.
In another development, the Governor, Ved Prakash Marwah, has left Imphal for Shillong today to attend a chief minister's conference on the economic problems of.
the north east region.
The Union finance minister Yaswant Sinha will be presiding over the meeting.