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State exploring ways to generate revenue

By Staff Reporter
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GUWAHATI, Dec 24 - Claiming that the Centre�s new funding pattern has become a hindrance to the developmental projects, the State government today said that it has already started exploring revenue generation avenues on its own to maintain the fiscal health.

Commissioner and Secretary, Finance Department, Dr Ravi Kota today told media persons that the government has tied up with a consultancy firm to devise a bailout mechanism.

Dr Kota informed that an agreement with the National Institute of Public Finance and Policy (NIPFP) has already been inked and the latter has been asked to work on the possibilities of increasing the State�s resources further.

�The NEIPFP has been asked to submit both the short-term and long-term report aimed at increasing revenue generation,� Dr Kota stated, adding, �They have been asked to study and submit report on eight to nine areas of possibilities.�

Dr Kota, who was accompanied by Additional Chief Secretary KV Eapen, further stated that the NEIPFP has already interacted with all the departments and that while the short-term report is expected to come up by March next year, the long-term report should be available by July.

Both Dr Kota and Eapen, however, opined that despite the change in the fund flow, payment of salaries, pensions and other day-to-day expenses will not be a problem.

They also stated that the confusion over the Special Category States status remains as there was no specific communication on the issue by the Centre.

On the State�s loan burden, Dr Kota said that like last year, this year too, the entire loan quota of Rs 6,000 crore, as fixed by the Centre, has been availed by the State.

He added that the per capita loan burden of Assam is �one of the lowest in the country,� Dr Kota said.

It was also informed that the announcements in the Union Budget for 2015-16 has led to drastic reduction in allocation of resources for many important schemes.

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State exploring ways to generate revenue

GUWAHATI, Dec 24 - Claiming that the Centre�s new funding pattern has become a hindrance to the developmental projects, the State government today said that it has already started exploring revenue generation avenues on its own to maintain the fiscal health.

Commissioner and Secretary, Finance Department, Dr Ravi Kota today told media persons that the government has tied up with a consultancy firm to devise a bailout mechanism.

Dr Kota informed that an agreement with the National Institute of Public Finance and Policy (NIPFP) has already been inked and the latter has been asked to work on the possibilities of increasing the State�s resources further.

�The NEIPFP has been asked to submit both the short-term and long-term report aimed at increasing revenue generation,� Dr Kota stated, adding, �They have been asked to study and submit report on eight to nine areas of possibilities.�

Dr Kota, who was accompanied by Additional Chief Secretary KV Eapen, further stated that the NEIPFP has already interacted with all the departments and that while the short-term report is expected to come up by March next year, the long-term report should be available by July.

Both Dr Kota and Eapen, however, opined that despite the change in the fund flow, payment of salaries, pensions and other day-to-day expenses will not be a problem.

They also stated that the confusion over the Special Category States status remains as there was no specific communication on the issue by the Centre.

On the State�s loan burden, Dr Kota said that like last year, this year too, the entire loan quota of Rs 6,000 crore, as fixed by the Centre, has been availed by the State.

He added that the per capita loan burden of Assam is �one of the lowest in the country,� Dr Kota said.

It was also informed that the announcements in the Union Budget for 2015-16 has led to drastic reduction in allocation of resources for many important schemes.