Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 150
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 151
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
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Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
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Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

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        LATEST NEWS UPDATES | Mamata&#039;s blackmailing tactics: Centre ought to resist it    </title>
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On Saturday, Bengal chief minister Mamata Banerjee told New Delhi that it had 15 days to announce a debt-relief package for the state. She did not specify what would happen after the deadline, but said that her patience..."/>
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-The Economic Times


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On Saturday, Bengal chief minister Mamata Banerjee told New Delhi that it had 15 days to announce a debt-relief package for the state. She did not specify what would happen after the deadline, but said that her patience..." />
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                            <div style="text-align: justify">-The Economic Times</div><div style="text-align: justify">&nbsp;</div><div style="text-align: justify">On Saturday, Bengal chief minister Mamata Banerjee told New Delhi that it had 15 days to announce a debt-relief package for the state. She did not specify what would happen after the deadline, but said that her patience was wearing thin.&nbsp;</div><div style="text-align: justify"><br /></div><div style="text-align: justify">The Centre cannot give in to such blackmail. Banerjee doesn't have to bother about the huge risk that this demand creates. The Centre has few powers to write off, or postpone state debt. If Bengal's interest or principal repayments are postponed for three years, other high-debt states like Punjab and Kerala could ask for similar packages, forcing the Centre to take on the burden of paying lenders.&nbsp;</div><div style="text-align: justify"><br /></div><div style="text-align: justify">This will drive finance minister Pranab Mukherjee's fragile 5.1% fiscal deficit target deep into the red. Bengal's finance minister Amit Mitra had recently reckoned that the state was paying about Rs 15,000 crore as interest and Rs 5,400 crore as principal to the Centre on various borrowings.&nbsp;</div><div style="text-align: justify"><br /></div><div style="text-align: justify">This, presumably, is the amount that Banerjee wants a moratorium on. Apart from postponing debt, there is no plan to show how Bengal will repair its disastrous finances. The latest estimates show Bengal's total debt at a staggering Rs 2.08 lakh crore. Of this, it owes nearly Rs 90,000 crore to market lenders and about Rs 80,000 crore to subscribers of national small savings schemes.&nbsp;</div><div style="text-align: justify"><br /></div><div style="text-align: justify">The Centre has lent it Rs 12,350 crore. Bengal is running on borrowed money. The only way out of this mess is to generate more revenues. Banerjee believes that taxes are a burden on Bengal's poor. Last month, Mitra promised to raise revenues by Rs 200 crore in his first budget, but how he will do this is unclear.&nbsp;</div><div style="text-align: justify"><br /></div><div style="text-align: justify">He imposed an entry tax for goods coming into the state and higher rates on some 'luxury' products. Long before the Trinamool came to power, it was clear that the only way to get Bengal back on the rails was to get investments and industry back to the state.&nbsp;</div><div style="text-align: justify"><br /></div><div style="text-align: justify">For that, the administration has to create a climate of confidence, dispelling the gloom of 34 years of Left rule. Bengal will revive if Banerjee can run an efficient, revenue-earning and investment-friendly show. Reckless governance and asking for debt recasts will take it further into the red.</div>                                                           
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    <h1 class="cat-box-title">Mamata&#039;s blackmailing tactics: Centre ought to resist it</h1>
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                            <div style="text-align: justify">-The Economic Times</div><div style="text-align: justify">&nbsp;</div><div style="text-align: justify">On Saturday, Bengal chief minister Mamata Banerjee told New Delhi that it had 15 days to announce a debt-relief package for the state. She did not specify what would happen after the deadline, but said that her patience was wearing thin.&nbsp;</div><div style="text-align: justify"><br /></div><div style="text-align: justify">The Centre cannot give in to such blackmail. Banerjee doesn't have to bother about the huge risk that this demand creates. The Centre has few powers to write off, or postpone state debt. If Bengal's interest or principal repayments are postponed for three years, other high-debt states like Punjab and Kerala could ask for similar packages, forcing the Centre to take on the burden of paying lenders.&nbsp;</div><div style="text-align: justify"><br /></div><div style="text-align: justify">This will drive finance minister Pranab Mukherjee's fragile 5.1% fiscal deficit target deep into the red. Bengal's finance minister Amit Mitra had recently reckoned that the state was paying about Rs 15,000 crore as interest and Rs 5,400 crore as principal to the Centre on various borrowings.&nbsp;</div><div style="text-align: justify"><br /></div><div style="text-align: justify">This, presumably, is the amount that Banerjee wants a moratorium on. Apart from postponing debt, there is no plan to show how Bengal will repair its disastrous finances. The latest estimates show Bengal's total debt at a staggering Rs 2.08 lakh crore. Of this, it owes nearly Rs 90,000 crore to market lenders and about Rs 80,000 crore to subscribers of national small savings schemes.&nbsp;</div><div style="text-align: justify"><br /></div><div style="text-align: justify">The Centre has lent it Rs 12,350 crore. Bengal is running on borrowed money. The only way out of this mess is to generate more revenues. Banerjee believes that taxes are a burden on Bengal's poor. Last month, Mitra promised to raise revenues by Rs 200 crore in his first budget, but how he will do this is unclear.&nbsp;</div><div style="text-align: justify"><br /></div><div style="text-align: justify">He imposed an entry tax for goods coming into the state and higher rates on some 'luxury' products. Long before the Trinamool came to power, it was clear that the only way to get Bengal back on the rails was to get investments and industry back to the state.&nbsp;</div><div style="text-align: justify"><br /></div><div style="text-align: justify">For that, the administration has to create a climate of confidence, dispelling the gloom of 34 years of Left rule. Bengal will revive if Banerjee can run an efficient, revenue-earning and investment-friendly show. Reckless governance and asking for debt recasts will take it further into the red.</div>                                                           
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    <h1 class="cat-box-title">Mamata&#039;s blackmailing tactics: Centre ought to resist it</h1>
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                            <div style="text-align: justify">-The Economic Times</div><div style="text-align: justify">&nbsp;</div><div style="text-align: justify">On Saturday, Bengal chief minister Mamata Banerjee told New Delhi that it had 15 days to announce a debt-relief package for the state. She did not specify what would happen after the deadline, but said that her patience was wearing thin.&nbsp;</div><div style="text-align: justify"><br /></div><div style="text-align: justify">The Centre cannot give in to such blackmail. Banerjee doesn't have to bother about the huge risk that this demand creates. The Centre has few powers to write off, or postpone state debt. If Bengal's interest or principal repayments are postponed for three years, other high-debt states like Punjab and Kerala could ask for similar packages, forcing the Centre to take on the burden of paying lenders.&nbsp;</div><div style="text-align: justify"><br /></div><div style="text-align: justify">This will drive finance minister Pranab Mukherjee's fragile 5.1% fiscal deficit target deep into the red. Bengal's finance minister Amit Mitra had recently reckoned that the state was paying about Rs 15,000 crore as interest and Rs 5,400 crore as principal to the Centre on various borrowings.&nbsp;</div><div style="text-align: justify"><br /></div><div style="text-align: justify">This, presumably, is the amount that Banerjee wants a moratorium on. Apart from postponing debt, there is no plan to show how Bengal will repair its disastrous finances. The latest estimates show Bengal's total debt at a staggering Rs 2.08 lakh crore. Of this, it owes nearly Rs 90,000 crore to market lenders and about Rs 80,000 crore to subscribers of national small savings schemes.&nbsp;</div><div style="text-align: justify"><br /></div><div style="text-align: justify">The Centre has lent it Rs 12,350 crore. Bengal is running on borrowed money. The only way out of this mess is to generate more revenues. Banerjee believes that taxes are a burden on Bengal's poor. Last month, Mitra promised to raise revenues by Rs 200 crore in his first budget, but how he will do this is unclear.&nbsp;</div><div style="text-align: justify"><br /></div><div style="text-align: justify">He imposed an entry tax for goods coming into the state and higher rates on some 'luxury' products. Long before the Trinamool came to power, it was clear that the only way to get Bengal back on the rails was to get investments and industry back to the state.&nbsp;</div><div style="text-align: justify"><br /></div><div style="text-align: justify">For that, the administration has to create a climate of confidence, dispelling the gloom of 34 years of Left rule. Bengal will revive if Banerjee can run an efficient, revenue-earning and investment-friendly show. Reckless governance and asking for debt recasts will take it further into the red.</div>                                                           
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Mamata's blackmailing tactics: Centre ought to resist it

Published on Apr 24, 2012   Modified on Apr 24, 2012

-The Economic Times   On Saturday, Bengal chief minister Mamata Banerjee told New Delhi that it had 15 days to announce a debt-relief package for the state. She did not specify what would happen after the deadline, but said that her patience was wearing thin.  The Centre cannot give in to such blackmail. Banerjee doesn't have to bother about the huge risk that this demand creates. The Centre has few powers to write off, or postpone state debt. If Bengal's interest or principal repayments are postponed for three years, other high-debt states like Punjab and Kerala could ask for similar packages, forcing the Centre to take on the burden of paying lenders.  This will drive finance minister Pranab Mukherjee's fragile 5.1% fiscal deficit target deep into the red. Bengal's finance minister Amit Mitra had recently reckoned that the state was paying about Rs 15,000 crore as interest and Rs 5,400 crore as principal to the Centre on various borrowings.  This, presumably, is the amount that Banerjee wants a moratorium on. Apart from postponing debt, there is no plan to show how Bengal will repair its disastrous finances. The latest estimates show Bengal's total debt at a staggering Rs 2.08 lakh crore. Of this, it owes nearly Rs 90,000 crore to market lenders and about Rs 80,000 crore to subscribers of national small savings schemes.  The Centre has lent it Rs 12,350 crore. Bengal is running on borrowed money. The only way out of this mess is to generate more revenues. Banerjee believes that taxes are a burden on Bengal's poor. Last month, Mitra promised to raise revenues by Rs 200 crore in his first budget, but how he will do this is unclear.  He imposed an entry tax for goods coming into the state and higher rates on some 'luxury' products. Long before the Trinamool came to power, it was clear that the only way to get Bengal back on the rails was to get investments and industry back to the state.  For that, the administration has to create a climate of confidence, dispelling the gloom of 34 years of Left rule. Bengal will revive if Banerjee can run an efficient, revenue-earning and investment-friendly show. Reckless governance and asking for debt recasts will take it further into the red.

The Economic Times, 24 April, 2012, http://economictimes.indiatimes.com/opinion/editorial/mamatas-blackmailing-tactics-centre-ought-to-resist-it/articleshow/12845412.cms

Tagged with: Governance

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