Meghalaya | Financial challenges exist, but system intact: Conrad
File Photo
Meghalaya | Financial challenges exist, but system intact: Conrad

Shillong, Nov 13:

Meghalaya Chief Minister, Conrad K Sangma has stated that the State Government needs to maintain a balance to bail out the State from the present financial challenges.

"Financial challenges are there in the system whether it's the Centre, State Governments or organisations. Nobody is denying this fact. But this does mean that the system has collapsed," Conrad said while speaking to reporters here today.

According to him, the State Government will have to ensure that the balance is maintained.

Stating that the financial position needs to be worked out, he also stated that budgeting takes place to ensure that the committed expenditures, liabilities are met.

"It is a fact that there is slow down of the economy at the national level which is eminently clear from the numbers which are coming out in the GDP and the revenue collection at the central level. This directly affects the revenue share of all the State Governments and not just of Meghalaya. These challenges will always be there which is part of the economic cycle," Meghalaya Chief Minister said. 

ALSO WATCH:

He observed that this is not limited to Meghalaya and this crisis is prevalent throughout the country and the world.

"We need to ensure that the State moves on and the committed liabilities are paid. We also need to ensure that development process is not hampered. This balance needs to be maintained," Meghalaya Chief Minister said. 

Referring to the pending contractual bills, he said that it is absolutely not possible for the present Government to clear contractual bills which are pending for the last 20 years.

ALSO READ | Meghalaya Guv yet to receive Residents Act ordinance; CM hopes for early implementation
Proposed Amendment to Excise Rules yet to be approved

The Meghalaya Cabinet today could to not approve the proposed amendment of the Excise Rules which aimed to enhance the revenue collection of the State.

Talking to reporters after the Cabinet meeting, Meghalaya Chief Minister, Conrad K Sangma said that the Cabinet could not adopt the amendment of the rules since the suggestions which were proposed during the Cabinet meeting need to be incorporated.

"The Cabinet will again meet tomorrow to finalise the proposed amendment of the rules," Conrad said.

He said that the Cabinet also discussed on the need to improve the revenue generation of the different departments adding that the Government is taking these measures to see that the revenue collection of each department goes up. 

ALSO WATCH:

Meanwhile, Meghalaya Chief Minister said that once the new rule is inserted then there will be a serious jump in the revenue collection.

When asked if the State Government is contemplating to legalise wine making in Meghalaya, Conrad said that the State Government will examine that matter adding that this not something which the State Government will plunge into at the moment.

"We are now going to the bigger challenges to pluck the loopholes that are there in the system. Other issues for expansion of other sources of revenue will be examined later," he added.

Related Stories

The Northeast Today
thenortheasttoday.com