No additional grant, market borrowing limit extended: MitraJune 18th, 2012 - 11:46 pm ICT by IANS
Kolkata, June 18 (IANS) West Bengal Finance Minister Amit Mitra Monday told the state assembly the central government has not provided any additional grant to the cash-strapped state, but extended the limit of market borrowing.
“Barring the state’s share under the constitutional provisions, we have not received any extra liquidity or a grant from Centre,” Mitra said.
“For the year 2011-12, the state government had to pay Rs.22,000 crore for the repayment of principal and interest on loan. The amount was deducted by the Reserve Bank of India from the state’s exchequer,” the finance minister said.
“The amount would rise to Rs.25,000 crore in the next financial year,” he added.
He said central government has, however, extended the limit of market borrowing for the debt-ridden state by Rs.2,750 crore beyond the prescribed limit under the Fiscal Responsibility and Budget Management (FRBM)Act, 2003.
Informing that the Trinamool Congress-led government has spent Rs.22,800 crore on building social infrastructure, the minister said about Rs.15,726 crore has been spent on education.
“Rs.3,982 crore was spent towards health and family welfare, Rs.795 crore towards backward classes development and Rs.672 crore towards social welfare and nutritional support,” he added.
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Tags: amit mitra, bank of india, budget management, central government, constitutional provisions, crore, family welfare, finance minister, fiscal responsibility, kolkata, liquidity, principal and interest, reserve bank of india, rs 2, social infrastructure, social welfare, state assembly, state government, trinamool congress, west bengal