Munda cleans up Jharkhand's books

Jharkhand Chief Minister Arjun Munda can claim substantial gains in the state's financial management for the fiscal 2004-05.

Against the Planning Commission's target of Rs 2,811.17 crore for mobilisation of internal resources the state mobilised Rs 3,328 crore.

The departments of commercial taxes, mines and excise, exceeded their respective revenue generation targets.

Munda said the government had decided to waive Rs 279 crore of loans due from the co-operative sector as well as outstanding power dues. It also paid Rs 1,200 crore to the Reserve Bank of India towards settlement of loans, including interest accrual, he said.

The state's plan outlay in fiscal 2004-05 was raised to Rs 4,110.19 crore from just Rs 2,935 crore in the preceding fiscal, of which, the government utilised around 75 per cent "" Rs 3,051.42 crore.

The total surrender amount under both Plan and non-Plan heads is pegged at about Rs 1,500 crore. Against budgetary provision of Rs 10,400 crore, the state government succeeded in spending Rs 8,900 crore in fiscal 2004-05.

Despite fears of dislocation caused by the 2004 Parliamentary polls and the 2005 Assembly elections within the fiscal 2004-05, the performance of the Munda government was much better on both the receipt and expenditure accounts in comparison to the preceding fiscal, ie, 2003-04.

Munda said he expected that the new rural electrification scheme laucnhed by the Union government which provided central funding to the extent 90 per cent would help the state government provide quality power to rural areas.

Availability of power would help accelrate development in the state's backward regions and also help tackle the fundamental causes of the acute backwardness in tribal-diominated, resource-rich Jharkhand, according to the chief minister.