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Wednesday, Dec 08, 2021
Outlook.com

Playing A Mean Flute

Playing A Mean Flute
Playing A Mean Flute
outlookindia.com
-0001-11-30T00:00:00+05:53

From a revenue surplus of Rs 159 crore in 1995-96, the state slipped to a deficit of Rs 2,325 crore in '99-2000. But chief minister S.M. Krishna, who also holds the finance portfolio, is implementing a medium term fiscal plan to get it back on track. Says Chiranjeev Singh, principal secretary, finance: "A number of states have asked us to help them implement similar reforms."

A new recruitment policy has helped to cut salary outgo while eight psus are to be closed down. The government has made it compulsory for all organisations to procure goods and services on a competitive basis under its Transparency in Procurement Act. Power reforms are progressing apace. As for World Bank loans, Singh says the government is keeping external debt within limits. "We cannot mortgage the future of coming generations, so the government is serious about prudent management of finances through these reforms," he said.

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