Nation Current Affairs 25 Oct 2018 LG: Timely political ...

LG: Timely political decisions can save loss making societies

DECCAN CHRONICLE.
Published Oct 25, 2018, 2:49 am IST
Updated Oct 25, 2018, 2:49 am IST
All proposals coming to LG office are now being closely examined and sanctioned with certain conditions of financial prudence.
Puducherry Lt Governor Kiran Bedi
 Puducherry Lt Governor Kiran Bedi

Puducherry: Puducherry Lt Governor Kiran Bedi on Wednesday said that timely political decisions are urgently required to address the issues of loss making societies and corporations in the Union Territory.

Last two years office, the Lt Governor has been sounding the political establishment in writing to take timely decisions concerning bloated undertakings and loss making societies as Puducherry is already in a debt trap, but  unfortunately no political decisions have yet been taken yet, said the Lt Governor in message after attending a meeting of  all trade union leaders at Raj Nivas. The leaders met Ms Bedi to discuss various issues including the salary issue of the employees of the government boards and corporations.

 

Pointing out the financial crisis the Union Territory is facing, the Lt Governor said that Puducherry borrows around `1,000 crore each year to balance its annual budget.

“The Central government releases `1,800 crore which is nearly 60 percentage of what the Union Territory internally generates as revenue. This year over approximately `450 crore as principal amount and `900 crore towards interest is being repaid towards past loans which is why Puducherry is in a debt trap as stated by CAG.

The Lt Governor said that the trade union leaders were on the impression that it was the office of the Raj Nivas which is holding back the files

 

“They were categorically told that the office of Lt Governor is strictly going by the budget allocated and also ensure that money is sanctioned is correctly spent. And also the grants in aid is budgeted and sanctioned as per availability of funds,” she said.

All proposals coming to LG office are now being closely examined and sanctioned with certain conditions of financial prudence.

The Lt Governor also claimed that these close scrutiny is now compelling systemic corrections and policy interventions which augurs well for the present and future financial management of Puducherry.

 

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