Source: The Imphal Free Press
Imphal, September 12:
The Manipur State Congress Party, MSCP, intends to bring out a white paper on the financial mismanagement that has crippled the state, former Union minister of state and MSCP president Thounaojam Chaoba said today.
Speaking to mediapersons at Babupara today, Chaoba observed that the state's total debt to the government of India as well as financial institutions stood at Rs 1200 crores.
Worked out against the state's population of 24 lakhs, he pointed out; this meant that even newborn infants bore a debt burden of Rs 5000 or so.
On payment of interest alone, the state has to spend Rs 150 crores every month, he added.
Chaoba placed the blame for this state of affairs on financial mismanagement by the previous governments, particularly those which came into power after the 6th Assembly elections.
The political instability in the state is also the result of this financial mismanagement, he said.