Source: The Sangai Express
Imphal, January 13:
The over draft incurred by the State exchequer now stands over the Rs 150 crore mark.
Disclosing this, a source from the State Finance Department said that salaries and pensions for January and February are likely to be paid in March.
However if the Centre releases the Rs 371 crores sought by the State Government as Medium Term Loan without any deductions, then the RBI may lift its ban which will pave the way for the pending salaries and pensions to be released, said the source.
The team from the Ministry of Finance which recently visited the State had also given assurance that the Medium Term Loan would be released.
The State Government has intimated a number of reminders to release the loan, added the source.
Meanwhile the amount taken by the State Govt as Ways and Means Advance stands at Rs 351 crores.
If the Centre decides to deduct this amount from the Rs 371 crores sought by the Govt then the remaining Rs 20 crores will not be able to write off the over draft which is over Rs 150 crores, added the source.
The State Govt has also already taken the monthly entitle- ment till January.
Even if the State Govt takes the February entitlement in advance amounting to Rs 70 crores it would serve little purpose.
In the given circumstances, the State Government has been pressuring the Centre not to deduct any amount from the Rs 371 crores sought as Mid Term Loan, informed the source.
2nd State Finance Commission: After protracted delays the 2nd State Finance Commission was finally constituted on Jan 3.Retired IAS officer (Secy YAS, Government of India), SS Sharma will head the Commission as the Chairman while the other members consist of Dr M Iboton (Retd Prof of MU) and S Ibochouba Singh (Retd) Joint Secretary of the State Finance Department.
Economist Dr OP Bohra of NIPFP will be the consultant.