Jishnu hopeful of better financial condition after recommendations of the 15th finance commission accepted by parliament

By Our Correspondent

Agartala October 09 ,2019 : The finance minister Jishnu Debbarma expects the financial profile of the state government to improve once the reports of the 15th finance commission is adopted by the parliament and implemented. The detailed report of the finance commission headed by economist N.K.Singh is likely to be submitted to the central government in the current month and then the same is scheduled to be placed in parliament and adopted before implementation with effect from April 1 next year . "We have laid down our detailed financial requirements for the next five years on non-plan head but now it is up to the finance commission to include our demands in the final report for adoption in the parliament; we are hoping for the best" said Jishnu. 

He conceded that the 14th finance commission had deprived the state of appropriate allocation of funds on the non-plan head and this created problems . "Besides, profligate squandering of resources by the previous left front government made them leave a debt burden of Rs 1100 crores on the present government with corresponding interest liability which we are finding difficult to meet" said Jishnu. He said that a major point of worry for the state government now was the inclusion of additional expenditure incurred by the state government in implementing the 2.57 factor point for raising the basic play of employees. "As per the terms of the reference of the 15th finance commission this expenditure incurred beyond the deadline of inclusion in the committed expenditures of the state may not be included in its recommendations as it  was done earlier and we have requested the 15th finance commission authority to include this, otherwise the state government will saddled with  a major liability" Jishnu said .

He however added that the state's finances was being managed with care and an ongoing austerity. Despite the constraints no 'overdraft' has been drawn by the state government over the past one and half years . 'This indicates our success in keeping the finances under our control and it can get only better when the funds sanctioned by the 15th finance commission come to the reserve bank of India (RBI) and is available from April 1 next year.

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