Mizoram monetary disaster as a result of poor monetary administration: Congress youth wing

PTI, September 28, 2022, 4:51 PM IST

The youth wing of the Mizoram Congress has alleged that the state is going through monetary disaster as a result of “poor monetary administration” beneath the MNF regime as its liabilities have elevated by 71.59 per cent within the final 4 years. The whole legal responsibility of the state has elevated by Rs 5,217.53 crore because the Zoramthanga-led authorities got here to energy in December 2018. “Mizoram is now going through extreme monetary disaster as a result of poor monetary administration,” an announcement issued by the Youth Congress stated.

The whole debt of the state is estimated to be Rs 12,553 crore. MNF leaders and authorities officers couldn’t be reached for touch upon the matter.

Nonetheless, the federal government had earlier stated that it was going through “monetary disaster as a result of a number of causes, together with the Covid-19 pandemic and non-receipt of state taxes and grants from the Centre, amounting to over Rs 2,630 crore from 2019-20″. is included. 2020-21”.

Chief Minister Zoramthanga, who additionally holds the finance portfolio, knowledgeable the state meeting in early September that the federal government took a mortgage of Rs 256.396 crore as ‘overdraft’ six occasions through the interval July 21 to August 2 within the present monetary yr. Is.

Aside from this, the federal government additionally secured loans via particular drawing facility and advances on a number of events, official sources stated. Methods and Means Advances are momentary advances given by RBI to governments to cope with any mismatch in receipts and funds.

Sources stated that the state authorities will once more take a mortgage of Rs 100 crore by taking mortgage from the open market. Not too long ago, throughout his two-week lengthy go to to New Delhi, Zoramthanga held a gathering with Union Finance Minister Nirmala Sitharaman over the state’s monetary scenario and sought the Centre’s assist.

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