State Govt seeks Rs 1500 crore package to tackle slowdown
The state government has sought Rs 1500 crore package from the centre to tackle the economic slowdown. The Orissa finance minister Prafulla Ghadei has placed the demand with Montek Singh Ahluwalia the Deputy Chairman of Planning Commission. There is impact of the global financial crisis on Indian economy and state economies. The global financial crisis has hit the revenue collection too.
Ghadei submitted a memorandum to Montek on Wednesday seeking special package for the state to tackle the economic slowdown. In the memorandum, Ghadei referred that the the revision of pay scales and pension has put a tremendous pressure on the state's finances.
However, around four lakh government employees and 2.49 lakh pensioner of the state are benefited with the revision as per pay commission recommendations.
There is impact of the global financial crisis on Indian economy and state economies. The global financial crisis has hit the revenue collection too.
There is impact of the global financial crisis on Indian economy and state economies. The global financial crisis has hit the revenue collection too.
posted by Neel @ 12:32 PM
1 Comments
1 Comments:
The government of Orissa especially under the present regime has always neglected the critical social sectors. There is a huge gap in creating capacity in the form of social-economic overheads and it requires quantum jump in capital expenditure for creation of assets in the economy. There is a need to boost expenditure under the heads like operations and maintenances requires urgent attention for maintaining the existing capital assets in the economy. Similar is the case with wages and salaries. Both wages and salaries and operations and maintenance expenditure as proportion of State expenditure declined drastically during the period 2000-01 to 2009-10. The decline is from 38.3 percent of total state expenditure in 2000-01 to 25.4 percent in 2009-10. A recent response to the Orissa State Budget has been presented by a Bhubaneswar based organization called Network for Social Accountability (NSA). A policy brief issued by NSA titled “Priorities for Social Sector Spending in Orissa: A Reality Check” provides significant revelation to this fact. Please see http://www.nsa.org.in/Policybrief/2009/PolicybriefArchive2009.htm for more details
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