FFC must ask some tough questions
Whilst pleading Arunachal's case to the Chairman of 14th Finance commission, the Chief Minister of the state has made all the right noise and was on bull's eye in spelling out the core challenges ailing the state's comatose financial situation. Not an iota of misinformation were fed to FFC, when he reasoned "lack of private investments, a weak market economy, inadequate infrastructure and poor physical connectivity; further aggravated by Supreme Court ban on Timber operation and suspension of coal mining by the Central Government".
But, are these the only reasons for massive over-draft? Nay.Government's silence or at best the evasive response to the "charges labeled" by the principal opposition party, BJP of financial bungling- misuse and misappropriation is still fresh in public mind. The Commoners are yet to hear on the case of fraudulent withdrawal of more than Rs 20 Cr in "kerosene subsidy". These were reported in newspapers. By the way, no one is talking about unreported acts of "omissions and commissions".
As a laggard state, a Finance Commission is arguably the most important constitutionally mandated economic body for one and only important reason - "poorer states like Arunchal Pradesh require additional help for rapid economic growth". Thus, obviously the Finance commissions are seen as institutional mechanism for transferring resources from the Centre to states by poorer states ours.However, the youngsters feel that Finance Commission must also fixed accountability with the state government to show its books of accounts. These are legititmate concerns since very little is made public of whatever happened to the Thirteenth Finance Commission's (TFC) recommendation for a roadmap for fiscal correction and consolidation in the medium term. Further, God knows whatever happened to the target to maintain outstanding debt as a per cent to GSDP at not more than 61.3 per cent (2010-11) and 50.1 per cent (2014-15), as per Fiscal Responsibility and Budget Management (FRBM) Acts.
FFC must ask some tough questions. Did they?
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