Financial records concerning grant in-aid availed and debts incurred by Nagaland during financial year 2011-2012 from the Union Ministry of Finance, Government of India, show both generous amounts of money and perhaps, worry too.
Elaborate records from the Ministry of Finance show that grant-in-aid have been quite charitable. But the amount of outstanding debts and balances liable for Nagaland state for the current financial year and up to November 2011 are anything but joyful.
The sister departments of the Finance Ministry, the department of Expenditure and Department of Economic Affairs listed the monthly release of grant in-aid to Nagaland – among other states – for the current fiscal year 2011-2012. The current fiscal year is under the 11th Plan period 2007-2012. The outstanding debt and liabilities of other recipient-states for the end of the fiscal year were also listed in the departments’ updates for up-to current November.
Records of the ministry’s State Loan Data Release Initiative under the Chief Controller of Accounts’ office showed Rs. 3,72,76,04,000 as the amount of grant in-aid ‘release’ for Nagaland for the month of November 2011 under ‘monthly release (state-wise).’
The total grant ‘release’ up to November 2011 for the state is Rs. 25,81,89,95,000. The releases are for Financial Year 2011-2012. For the month of October 2011, the total grant in-aid release for Nagaland is stated at Rs. 3,57,72,36,000 and the total release up to October 2011 Rs. 22,09,13,91,000.
The components of the fund-release included Grants under the Proviso to Article 275 (1), block grants, investment in special state government securities, corporation tax, income tax and taxes on wealth among other fund components.
Interestingly, during from April this year and till November, Nagaland was not sanctioned any loan, or so the records of the Chief Controller of Accounts, department Of Expenditure show.
The details of the sanctions made (Grant-in-aid) to Nagaland from April 1, 2011 till November 25, 2011 is Rs. 21,01,13,95,000 in 32 sanctions. Till October, the release sanction for Nagaland is Rs. 17,90,42,91,000 in 26 sanctions.
Outstanding
Balance & Debt
The Ministry’s Department of Expenditure also listed the outstanding balance Nagaland has incurred up to November 2011 for the year 2011-2012. Balance as on April 1, 2011 is a total of Rs. 269.6 crores while the Net Balance as on November 25, 2011 is Rs. 260 crores.
Under ‘State debt & Liabilities: Outstanding debt of states,’ for year 2007-2008, Nagaland has a debt of (Rs.) ‘3858’ and for 2008-2009, (Rs.) ‘4048.’ The records did not mention whether the figures were in lakh-mark or crore-mark although it is understood to be in the latter. Financial records for year 2009-2010, 2010-2011 and 2011-2012 could not be obtained nor are updates available in the Ministry’s website and record-shelf.
Elaborate records from the Ministry of Finance show that grant-in-aid have been quite charitable. But the amount of outstanding debts and balances liable for Nagaland state for the current financial year and up to November 2011 are anything but joyful.
The sister departments of the Finance Ministry, the department of Expenditure and Department of Economic Affairs listed the monthly release of grant in-aid to Nagaland – among other states – for the current fiscal year 2011-2012. The current fiscal year is under the 11th Plan period 2007-2012. The outstanding debt and liabilities of other recipient-states for the end of the fiscal year were also listed in the departments’ updates for up-to current November.
Records of the ministry’s State Loan Data Release Initiative under the Chief Controller of Accounts’ office showed Rs. 3,72,76,04,000 as the amount of grant in-aid ‘release’ for Nagaland for the month of November 2011 under ‘monthly release (state-wise).’
The total grant ‘release’ up to November 2011 for the state is Rs. 25,81,89,95,000. The releases are for Financial Year 2011-2012. For the month of October 2011, the total grant in-aid release for Nagaland is stated at Rs. 3,57,72,36,000 and the total release up to October 2011 Rs. 22,09,13,91,000.
The components of the fund-release included Grants under the Proviso to Article 275 (1), block grants, investment in special state government securities, corporation tax, income tax and taxes on wealth among other fund components.
Interestingly, during from April this year and till November, Nagaland was not sanctioned any loan, or so the records of the Chief Controller of Accounts, department Of Expenditure show.
The details of the sanctions made (Grant-in-aid) to Nagaland from April 1, 2011 till November 25, 2011 is Rs. 21,01,13,95,000 in 32 sanctions. Till October, the release sanction for Nagaland is Rs. 17,90,42,91,000 in 26 sanctions.
Outstanding
Balance & Debt
The Ministry’s Department of Expenditure also listed the outstanding balance Nagaland has incurred up to November 2011 for the year 2011-2012. Balance as on April 1, 2011 is a total of Rs. 269.6 crores while the Net Balance as on November 25, 2011 is Rs. 260 crores.
Under ‘State debt & Liabilities: Outstanding debt of states,’ for year 2007-2008, Nagaland has a debt of (Rs.) ‘3858’ and for 2008-2009, (Rs.) ‘4048.’ The records did not mention whether the figures were in lakh-mark or crore-mark although it is understood to be in the latter. Financial records for year 2009-2010, 2010-2011 and 2011-2012 could not be obtained nor are updates available in the Ministry’s website and record-shelf.
