Orissa asks for a Rs. 1,500 crore grant to tackle economic meltdown

February 18th, 2009 - 7:53 pm ICT by ANI  

Bhubaneshwar, Feb 18 (ANI): Orissa’’s Finance Minister Prafulla Ghadei said on Wednesday that the State Government has approached the Centre for grant of Rs.1,500 Crore to counter the economic slowdown.
Ghadei said the demand had been forwarded to Planning Commission Deputy Chairman Montek Singh Ahluwalia.
“The world is going through a massive economic meltdown and the Indian economy and economies of states are faced with challenging times,” Ghadei said in a memorandum to Ahluwalia.
The memorandum claims that Orissa implemented the revised pay scales and pension for state employees on the basis of Pay Commission recommendations. This, she said, has benefited about 400,000 government employees and around 249,000 pensioners.
The assistance, however, also “put tremendous pressure on the state’’s finances.”
Ghadei further said that the Orissa Government has increased the state’’s annual plan outlay from Rs 25 billion (Rs 2,500 crore) in 2004-05 to Rs 95 billion (Rs 9,500 crore) in 2008-09. (ANI)

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