Principal Correspondent
KOHIMA, MAY 15
THE State Finance Department today apprised the Cabinet on the poor fiscal condition of the state and suggested austerity measures, sources in the council of cabinet ministers in the State without wanting to be quoted revealed.
The cabinet meeting was held late this evening in the Chief Minister’s Residential Office, specifically to discuss the State’s financial condition. However, the detailed report could not be availed at the time of filing this report. Mention may be made here that Chief Minister Neiphiu Rio, who also holds the finance portfolio, presenting Rs 3523.58 crore vote on account during the March session of the State assembly had calculated that “since the opening deficit of the next fiscal is estimated at Rs 950.90 crore, the financial year 2014-15 is expected to close with a deficit of Rs 964.55 crore”.
Interacting with a section of media persons at Congress Bhavan here today, NPCC president SI Jamir said under the present NPF-led DAN government, the deficit of the State would be around Rs 1900 crore and that there is all possibility that the Centre might impose financial embargo on the State.
He, however, said unless the Central Government comes to the rescue of the State by giving massive financial assistance, the State would continue to suffer the huge deficit.
