Mizoram CM for 90:10 formula

Aizawl, Dec 12 (UNI) Mizoram Chief minister Zoramthanga has reiterated that the Central funding system of 90:10 ratio for the NE states would be useful to take up more projects in their respective region.

In an official statement here today, during the 52nd national development council meeting Mr Zoramthanga had mentioned that Mizoram along with other NE states, are special category states, having plan financial pattern of 90 per cent grant and 10 per cent loan.

''If financially weak and small states like ours have to borrow funds from the open market, our plan performance is bound to suffer'', he said adding ''We strongly urge that the previous practise of inter-mediation by the Centre continues until some agreed mechanism is put in place to meet the shortfall.'' Regarding Externally Aided Projects (EAP), Mr Zoramthanga said, ''The recent policy decision made by the Centre on the pattern of financing EAP in the ratio of 90:10 grants and loan systems in the NE region through DoNER minister in repect of multistate infrastructure projects is a welcoming initiative for resource crunch states of NER.

He said, ''Where ever state's matching shares are required, only a token share of about 10 per cent may be demanded on special category states.'' UNI SNR BA SI RS1140