As lack of funds hits PF shops MK Stalin says TN fiscally weak

Chennai: Painting a grim picture of TN fiscal position, Leader of the Opposition in the Assembly M. K. Stalin claimed that lack of funds has affected the distribution of essentials through the PDS and that the Revenue Deficit projected by the AIADMK Govt’s Budget estimates for 2016-2017 is greater than the Cumulative Revenue Deficits of the last 13 years since the passage of the Fiscal Responsibility Act in 2003.

Ahead of the Budget Session beginning on March 16, he said there has also been a steep drop-off in Capital Investments, with only Rs 5,166 Crores of the Budgeted 24,679 Crores (21% of the Annual Budget) being concluded in the First half – when conditions were generally more conducive.

“This will surely have a negative impact on future growth prospects,” he said.
“Several papers reported that the Ration Shops in the State were no longer carrying commodities like Dhall & Palm Oil, due to the lack of Government funds for Procurement for the PDS. Also, several MLA’s reported that cheques issued to them by the Assemble Dept for Travel Allowance and Medical Reimbursement were being returned for insufficient funds. There were also reports of ex-MLA’s Pension payments being delayed.

These raised the immediate question: If elected representative with high access to the levers of Government were experiencing this, what was happening to the common person’s payments due from the State especially Old Age Pension?” he asked.