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Tripura is facing fiscal deficit of 11,355.53 crore: Deputy CM

Tripura’s deputy chief minister Jishnu Dev Varma alleges that the Left government did not spend a major portion of the corpus in the previous five years.

india Updated: Mar 19, 2018 14:05 IST
Priyanka Deb Barman, Hindustan Times, Agartala
Tripura,fiscal deficit,Jishnu Dev Varma
Tripura chief minister Biplab Kumar Deb, flanked by deputy chief minister Jishnu Dev Varma after an oath-taking ceremony in Agartala on Wednesday. (PTI Photo)

Tripura’s deputy chief minister Jishnu Dev Varma has said the northeastern state is facing a fiscal deficit of Rs 11,355.53 crore and accused the previous Left government of implementing schemes and projects without ensuring the flow of funds.

Varma added the state had to repay interest rates at least 7.2% annually.

He also alleged that the Left government, despite being given sufficient funds by the Centre, did not spend a major portion of the corpus in the previous five years.

“The former Left government did not make estimates of receipts and expenditure for implementing projects and schemes. Many projects worth Rs 164.90 crore are left half-completed,” Varma said while speaking to reporters on Sunday.

The deputy chief minister said they would emphasise on collecting revenue, rationalisation of expenditure and seek funds from the Bharatiya Janata Party-led National Democratic Alliance government as part of the new government’s plan to overcome the crisis.

“We will be able to come out of the deficit soon,” he said.

He added that the people have chosen the BJP with huge expectations and it will fulfil all promises made before assuming power - such as the implementation of the Seventh Pay Commission for the state government employees. The state has been on the Fourth Pay Commission.

To deliver higher salaries, the government will have to find new sources of revenue or reducing developmental expenditure, which, experts say, are difficult tasks.

Chief minister Biplab Kumar Deb left for New Delhi on Sunday to hold a meeting with Prime Minister Narendra Modi, Union finance minister Arun Jaitley and others to discuss the state’s financial situation and seek a special package to tide over the crisis.

The BJP upstaged one of the longest democratically elected Communist governments in the country, with a thumping victory in this February’s assembly elections.

First Published: Mar 19, 2018 14:05 IST