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LATEST NEWS UPDATES | Dispur claims better economy </title>
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-The Telegraph
Dispur today said the state’s economy was “performing well” when the country’s overall growth rate was projected to be affected by the economic meltdown in Europe.
The principal secretary of the state finance department, Himangshu Sekhar Das, said Assam had..."/>
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-The Telegraph
Dispur today said the state’s economy was “performing well” when the country’s overall growth rate was projected to be affected by the economic meltdown in Europe.
The principal secretary of the state finance department, Himangshu Sekhar Das, said Assam had..." />
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<h1 class="cat-box-title">Dispur claims better economy</h1>
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Published on</span><span class="text-date"> Feb 25, 2012</span>
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<div style="text-align: justify"><br /></div><div style="text-align: justify">-The Telegraph</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Dispur today said the state’s economy was “performing well” when the country’s overall growth rate was projected to be affected by the economic meltdown in Europe.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">The principal secretary of the state finance department, Himangshu Sekhar Das, said Assam had not borrowed any money from the market in the current fiscal (2011-12) and its tax collection had recorded an increase of 33 per cent, most of which had come from service sector and constructions.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">“The economic condition of the state is in good shape and our increase in tax collection is because of reforms and computerisation in the tax collection process. We have not borrowed any money this fiscal whereas we used to borrow at least Rs 2,000 crore annually. We hope to maintain this trend despite the economic slowdown in European economy,” Das told reporters at the state secretariat.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">He said the state’s current debt was Rs 8,000 crore against the national average of Rs 12,000-13,000 crore. “Even our neighbouring state of West Bengal has a debt burden of about Rs 2,00,000 crore at present,” he added. “In the last financial year, our total plan outlay was Rs 9,000 crore, of which Rs 6,289 crore was given by the Centre and Rs 2,711 crore by the state. In the next fiscal, we hope to increase the outlay as we normally receive 12-14 per cent increase in central assistance,” he added.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">The statement comes amid concerns raised by different organisations, including the Akhil Gogoi-led Krishak Mukti Sangram Samiti, that the state’s economy is burdened by acute debt.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Das said apart from increase in tax collection, the state had Rs 2,500 crore in RBI’s shrinking fund. “We have been depositing Rs 200 crore annually in the shrinking fund which is like an insurance for future and is used to repay debt in case of an economic crisis. But since our market debt is lower and our economy is in good shape, we didn’t have to use the money from the fund.”</div><div style="text-align: justify"><br /></div><div style="text-align: justify">On the delay in releasing funds to government departments, Das said there was a delay of four months in the current fiscal because of Assembly elections but despite that about 44 per cent of funds had been allocated to the departments.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Another 36 per cent will be allocated by March 31, taking the total allocation to 80 per cent. The finance department has asked all other state departments to complete all Rs 2-crore projects within three years and more that Rs 2-crore projects within the stipulated five years to check cost escalation.Das also said the state had incurred a loss of Rs 850 crore in the past one-and-a-half years because of payment of oil royalty at a discounted price by three public sector refineries in Guwahati, Digboi and Bongaigaon to the state.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Chief minister Tarun Gogoi had moved Prime Minister Manmohan Singh in September last year against the Union petroleum ministry’s directive, issued in 2008-09, that enabled the refineries to pay the royalty to the state at a discounted price.</div>
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<br><a href="http://www.telegraphindia.com/1120225/jsp/frontpage/story_15177396.jsp" class="re" target="_blank">The Telegraph, 25 February, 2012, http://www.telegraphindia.com/1120225/jsp/frontpage/story_15177396.jsp</a><div class="clear"></div>
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LATEST NEWS UPDATES | Dispur claims better economy </title>
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Dispur today said the state’s economy was “performing well” when the country’s overall growth rate was projected to be affected by the economic meltdown in Europe.
The principal secretary of the state finance department, Himangshu Sekhar Das, said Assam had..."/>
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-The Telegraph
Dispur today said the state’s economy was “performing well” when the country’s overall growth rate was projected to be affected by the economic meltdown in Europe.
The principal secretary of the state finance department, Himangshu Sekhar Das, said Assam had..." />
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<h1 class="cat-box-title">Dispur claims better economy</h1>
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<div style="text-align: justify"><br /></div><div style="text-align: justify">-The Telegraph</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Dispur today said the state’s economy was “performing well” when the country’s overall growth rate was projected to be affected by the economic meltdown in Europe.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">The principal secretary of the state finance department, Himangshu Sekhar Das, said Assam had not borrowed any money from the market in the current fiscal (2011-12) and its tax collection had recorded an increase of 33 per cent, most of which had come from service sector and constructions.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">“The economic condition of the state is in good shape and our increase in tax collection is because of reforms and computerisation in the tax collection process. We have not borrowed any money this fiscal whereas we used to borrow at least Rs 2,000 crore annually. We hope to maintain this trend despite the economic slowdown in European economy,” Das told reporters at the state secretariat.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">He said the state’s current debt was Rs 8,000 crore against the national average of Rs 12,000-13,000 crore. “Even our neighbouring state of West Bengal has a debt burden of about Rs 2,00,000 crore at present,” he added. “In the last financial year, our total plan outlay was Rs 9,000 crore, of which Rs 6,289 crore was given by the Centre and Rs 2,711 crore by the state. In the next fiscal, we hope to increase the outlay as we normally receive 12-14 per cent increase in central assistance,” he added.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">The statement comes amid concerns raised by different organisations, including the Akhil Gogoi-led Krishak Mukti Sangram Samiti, that the state’s economy is burdened by acute debt.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Das said apart from increase in tax collection, the state had Rs 2,500 crore in RBI’s shrinking fund. “We have been depositing Rs 200 crore annually in the shrinking fund which is like an insurance for future and is used to repay debt in case of an economic crisis. But since our market debt is lower and our economy is in good shape, we didn’t have to use the money from the fund.”</div><div style="text-align: justify"><br /></div><div style="text-align: justify">On the delay in releasing funds to government departments, Das said there was a delay of four months in the current fiscal because of Assembly elections but despite that about 44 per cent of funds had been allocated to the departments.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Another 36 per cent will be allocated by March 31, taking the total allocation to 80 per cent. The finance department has asked all other state departments to complete all Rs 2-crore projects within three years and more that Rs 2-crore projects within the stipulated five years to check cost escalation.Das also said the state had incurred a loss of Rs 850 crore in the past one-and-a-half years because of payment of oil royalty at a discounted price by three public sector refineries in Guwahati, Digboi and Bongaigaon to the state.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Chief minister Tarun Gogoi had moved Prime Minister Manmohan Singh in September last year against the Union petroleum ministry’s directive, issued in 2008-09, that enabled the refineries to pay the royalty to the state at a discounted price.</div>
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<br><a href="http://www.telegraphindia.com/1120225/jsp/frontpage/story_15177396.jsp" class="re" target="_blank">The Telegraph, 25 February, 2012, http://www.telegraphindia.com/1120225/jsp/frontpage/story_15177396.jsp</a><div class="clear"></div>
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LATEST NEWS UPDATES | Dispur claims better economy </title>
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Dispur today said the state’s economy was “performing well” when the country’s overall growth rate was projected to be affected by the economic meltdown in Europe.
The principal secretary of the state finance department, Himangshu Sekhar Das, said Assam had..."/>
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-The Telegraph
Dispur today said the state’s economy was “performing well” when the country’s overall growth rate was projected to be affected by the economic meltdown in Europe.
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<h1 class="cat-box-title">Dispur claims better economy</h1>
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<div style="text-align: justify"><br /></div><div style="text-align: justify">-The Telegraph</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Dispur today said the state’s economy was “performing well” when the country’s overall growth rate was projected to be affected by the economic meltdown in Europe.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">The principal secretary of the state finance department, Himangshu Sekhar Das, said Assam had not borrowed any money from the market in the current fiscal (2011-12) and its tax collection had recorded an increase of 33 per cent, most of which had come from service sector and constructions.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">“The economic condition of the state is in good shape and our increase in tax collection is because of reforms and computerisation in the tax collection process. We have not borrowed any money this fiscal whereas we used to borrow at least Rs 2,000 crore annually. We hope to maintain this trend despite the economic slowdown in European economy,” Das told reporters at the state secretariat.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">He said the state’s current debt was Rs 8,000 crore against the national average of Rs 12,000-13,000 crore. “Even our neighbouring state of West Bengal has a debt burden of about Rs 2,00,000 crore at present,” he added. “In the last financial year, our total plan outlay was Rs 9,000 crore, of which Rs 6,289 crore was given by the Centre and Rs 2,711 crore by the state. In the next fiscal, we hope to increase the outlay as we normally receive 12-14 per cent increase in central assistance,” he added.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">The statement comes amid concerns raised by different organisations, including the Akhil Gogoi-led Krishak Mukti Sangram Samiti, that the state’s economy is burdened by acute debt.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Das said apart from increase in tax collection, the state had Rs 2,500 crore in RBI’s shrinking fund. “We have been depositing Rs 200 crore annually in the shrinking fund which is like an insurance for future and is used to repay debt in case of an economic crisis. But since our market debt is lower and our economy is in good shape, we didn’t have to use the money from the fund.”</div><div style="text-align: justify"><br /></div><div style="text-align: justify">On the delay in releasing funds to government departments, Das said there was a delay of four months in the current fiscal because of Assembly elections but despite that about 44 per cent of funds had been allocated to the departments.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Another 36 per cent will be allocated by March 31, taking the total allocation to 80 per cent. The finance department has asked all other state departments to complete all Rs 2-crore projects within three years and more that Rs 2-crore projects within the stipulated five years to check cost escalation.Das also said the state had incurred a loss of Rs 850 crore in the past one-and-a-half years because of payment of oil royalty at a discounted price by three public sector refineries in Guwahati, Digboi and Bongaigaon to the state.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Chief minister Tarun Gogoi had moved Prime Minister Manmohan Singh in September last year against the Union petroleum ministry’s directive, issued in 2008-09, that enabled the refineries to pay the royalty to the state at a discounted price.</div>
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<br><a href="http://www.telegraphindia.com/1120225/jsp/frontpage/story_15177396.jsp" class="re" target="_blank">The Telegraph, 25 February, 2012, http://www.telegraphindia.com/1120225/jsp/frontpage/story_15177396.jsp</a><div class="clear"></div>
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Published on Feb 25, 2012
Modified on Feb 25, 2012
-The Telegraph
Dispur today said the state’s economy was “performing well” when the country’s overall growth rate was projected to be affected by the economic meltdown in Europe.
The principal secretary of the state finance department, Himangshu Sekhar Das, said Assam had not borrowed any money from the market in the current fiscal (2011-12) and its tax collection had recorded an increase of 33 per cent, most of which had come from service sector and constructions.
“The economic condition of the state is in good shape and our increase in tax collection is because of reforms and computerisation in the tax collection process. We have not borrowed any money this fiscal whereas we used to borrow at least Rs 2,000 crore annually. We hope to maintain this trend despite the economic slowdown in European economy,” Das told reporters at the state secretariat.
He said the state’s current debt was Rs 8,000 crore against the national average of Rs 12,000-13,000 crore. “Even our neighbouring state of West Bengal has a debt burden of about Rs 2,00,000 crore at present,” he added. “In the last financial year, our total plan outlay was Rs 9,000 crore, of which Rs 6,289 crore was given by the Centre and Rs 2,711 crore by the state. In the next fiscal, we hope to increase the outlay as we normally receive 12-14 per cent increase in central assistance,” he added.
The statement comes amid concerns raised by different organisations, including the Akhil Gogoi-led Krishak Mukti Sangram Samiti, that the state’s economy is burdened by acute debt.
Das said apart from increase in tax collection, the state had Rs 2,500 crore in RBI’s shrinking fund. “We have been depositing Rs 200 crore annually in the shrinking fund which is like an insurance for future and is used to repay debt in case of an economic crisis. But since our market debt is lower and our economy is in good shape, we didn’t have to use the money from the fund.”
On the delay in releasing funds to government departments, Das said there was a delay of four months in the current fiscal because of Assembly elections but despite that about 44 per cent of funds had been allocated to the departments.
Another 36 per cent will be allocated by March 31, taking the total allocation to 80 per cent. The finance department has asked all other state departments to complete all Rs 2-crore projects within three years and more that Rs 2-crore projects within the stipulated five years to check cost escalation.Das also said the state had incurred a loss of Rs 850 crore in the past one-and-a-half years because of payment of oil royalty at a discounted price by three public sector refineries in Guwahati, Digboi and Bongaigaon to the state.
Chief minister Tarun Gogoi had moved Prime Minister Manmohan Singh in September last year against the Union petroleum ministry’s directive, issued in 2008-09, that enabled the refineries to pay the royalty to the state at a discounted price.
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