Tripura earns Rs 258 crore following UPA's fiscal reform

Agartala, Nov 19 (UNI) Tripura finance minister Badal Choudhury today admitted that the state earned additional benefit of Rs 258 crore following financial reforms of UPA government.

Talking to media here Mr Choudhury stated that Tripura had already earned Rs 67 crore besides 7.5 percent savings of interest on central loans.

'' According to conditions of Fiscal Responsibility Budget Management (FRBM) Act framed under economic reforms during 12th finance Commission Tripura was able to bring revenue deficit at zero while reduced the loan and Gross Domestic Product(GDP) ratio substantially'', Mr Choudhury said.

Central government had instructed to bring down the ratio between GDP and loan at less than 40 and Tripura would be able to achieve the target by 2009-10, he asserted adding that the revenue earnings of the state was increasing gradually due to financial discipline.

Mr Choudhury made it clear that left ruled states in the country would never accept the conditions of Mid-Term Fiscal Reform Policy (MTFRP) like to stop recruitment in government departments,reduce two percent sanctioned posts and sell out the loss making public sector undertakings for reducing financial burden of the states.

'' We have followed FRBM under compulsion and definitely scored some benefit but never agreed to anti-labour policies favouring privatisation laid in MTFRP, Mr Choudhury added.

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