Manipur: Govt submits memorandum to Finance Commissionhttps://indianexpress.com/article/north-east-india/manipur/manipur-govt-submits-memorandum-finance-commission-nk-singh-5473289/

Manipur: Govt submits memorandum to Finance Commission

The chairman of 15th Finance Commission NK Singh said the Manipur Government has submitted a proposal involving a large sum of money on account of short revenue deficit grant and state-specific projects.

The 15th Finance Commission team led by its chairman, NK Singh has been camping in Imphal since Thursday. (In pic-Manipur CM N Biren Singh. Express photo- by Renuka Puri/File)

The government of Manipur on Friday submitted a detailed memorandum to the 15th Finance Commission team and also submitted 25 projects for the state’s specific funding for improving infrastructure and social infrastructure. Although the exact amount sought by the state is not disclosed, the chairman of the commission NK Singh said the Manipur Government has submitted proposal involving a large sum of money on account of short revenue deficit grant and state-specific project.

Earlier, reports emerged that the state government may demand Rs 70,000 to 80,000 crore from the Commission against the Rs. 30,000 crore received during the period of 14th finance commission.

The 15th Finance Commission team led by its chairman, NK Singh has been camping in Imphal since Thursday. The finance commission team comprises its member, secretary, joint secretary, deputy director, assistant director and economic officer. Soon after their arrival, the team met with the representatives of different political parties, representatives of rural and urban local bodies and representatives of trade and industries.

Today, the team met and interacted with the chief minister, deputy chief minister — who is also the finance minister, Council of Ministers and bureaucrats of the state and held a detailed discussion on the financial position of the state.

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Addressing media persons after the meeting, NK Singh said although Manipur has incurred fiscal deficit, the deficit trajectory projected by the state government is well below 3 per cent which is the norm stipulated by the FRBM, but the debt trajectory needs an improvement.

Manipur Government has projected possible revenue deficit in the pre-devolution period on the implementation of 7th pay commission in the state, Singh said.

“It is our endeavor to try and meet the expectation and aspiration contained in the memorandum submitted to us within the constitutional mandate that we have and within the overall basket will become available,” he said.

He observed that in spite of Manipur getting close to the reasonably high rate of economic growth, it still has a number of important steps that need to be taken up for putting the state’s economy in better trajectory. The steps are like harnessing the solar and wind power, strengthening human resource and keeping transparency of accounting system, he added.

The chairman of the finance commission assured the government for double-digit growth of the economy by improving the per capita income of the state and for decreasing the poverty number in the coming years and to make Manipur best among the special category states of the country.

It is in view of the importance of the state’s economy and the critical location for promoting the act east policy and also the overall profile of the place.