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Oil royalty amount to cut State budget deficit

By STAFF REPORTER
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GUWAHATI, Feb 21 - Bolstered by the Centre�s decision to release oil royalty dues of Rs 6,320 crore, State Finance Minister Himanta Biswa Sarma today said that the State Government should now be able to present a surplus budget of nearly Rs 1,000 crore in the next financial year.

Talking to media persons here today, Sarma said that while the first instalment of Rs 948 crore will be released before March 31, the second and third instalments of Rs 2,844 crore and Rs 2,528 crore would be released in 2017-18 and 2018-19 respectively.

This means that the entire due will be cleared to the State Government within the next three years. The Centre had already paid Rs 1,450 crore to the State Government in August, 2016.

�Assam has never received such a huge amount from the Centre in this form and this will certainly do the State financial health a world of good,� the minister asserted, adding, Union Petroleum Minister Dharmendra Pradhan will be present in the State to hand over the first instalment.

�Today, even the Supreme Court of India has put its stamp on the agreement between the Centre and the State Government thereby dismissing the case. The agreement was in the best interest of cooperative federalism,� he added.

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Oil royalty amount to cut State budget deficit

GUWAHATI, Feb 21 - Bolstered by the Centre�s decision to release oil royalty dues of Rs 6,320 crore, State Finance Minister Himanta Biswa Sarma today said that the State Government should now be able to present a surplus budget of nearly Rs 1,000 crore in the next financial year.

Talking to media persons here today, Sarma said that while the first instalment of Rs 948 crore will be released before March 31, the second and third instalments of Rs 2,844 crore and Rs 2,528 crore would be released in 2017-18 and 2018-19 respectively.

This means that the entire due will be cleared to the State Government within the next three years. The Centre had already paid Rs 1,450 crore to the State Government in August, 2016.

�Assam has never received such a huge amount from the Centre in this form and this will certainly do the State financial health a world of good,� the minister asserted, adding, Union Petroleum Minister Dharmendra Pradhan will be present in the State to hand over the first instalment.

�Today, even the Supreme Court of India has put its stamp on the agreement between the Centre and the State Government thereby dismissing the case. The agreement was in the best interest of cooperative federalism,� he added.