LG advises Govt to raise money where it could be possible
Puducherry

LG advises Govt to raise money where it could be possible

Agency News

Puduherry, May 18 : Lt.Governor Kiran Bedi on Monday advised the government to raise money where it could be possible from such as IMFL auction, Cable TV taxes, pending arrears in property tax, power tariff and business for a better provided and financially managed Puducherry.

In a whatsapp posting, the Lt.Governor said that this should be done if we want to ensure pension for those in need and intact salaries. Pointing out that state’s borrowing ceiling was raised from 3 percent of the GSDP to 5 percent of which only up to 3.5 percent is unconditional and the remaining 1.5 percent is subject to conditions like discontinue free power to farmers and roll out DBT, reduce power loss and narrow the gap between cost of supply and revenue realization, among other things, the Lt Governor said the ball is in our court and let us be exceedingly careful with every penny we spend hereafter. Essential expenses are prioritized and others can wait when we have something in hand, she said.

Ms Bedi also clarified that borrowing by Union Territory requires approval by the Ministry of Home Affairs by law 47 of the Union Territories Act, if recommended by the administrator. Also one has to depend on borrowing in view of the slip in revenue due to lockdown, the Lt Governor said. Hence, be exceedingly watchful, and energized to recover, save and generate, she added. MS Bedi also said that she got a feed that the rent of Municipal shops and buildings is very low and the shops on Nehru street and M G road are being sublet at twice or thrice the rent collected by the Municipalities. The Municipalities need to think about this, the Lt Governor said. (UNI)

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