Aizawl: Youth wing of Mizoram opposition Congress on Tuesday alleged that the state’s financial liabilities in 4 years of Mizo National Front (MNF) government led by Zoramthanga has increased by 71.59 per cent against the total liabilities accumulated over the last 35 years.

A statement issued by the Congress youth said that the state is now reeling under acute financial crunch due to poor fiscal management.

“The state’s total debt from December 2018 when the MNF came to power is estimated to be Rs. 12,553 crore and it increases by almost double from the total liabilities accumulated over the last 35 years,” the statement said.

It said that during four years of MNF government, the state’s total liabilities increased by Rs. 5,217.53 crore (71.59%) against the total liabilities accumulated in the last 35 years.

The Congress youth alleged that the state government is in a fix as it could not meet the basic needs or requirements due to the current fiscal shortage.

MNF leaders and government officials could not be contacted for comment on the matter.

Mizoram has been reeling under financial crunch owing to several reasons, including Covid-19 pandemic and non-receipt of state’s share of taxes and grants from the Centre amounting to over Rs. 2,630 crore during the fiscal 2019-2020 to 2020-2021.

Zoramthanga, who also holds the finance portfolio, informed the state assembly in early September that the state government has availed loans amounting to Rs. 256.396 crore from the Reserved Bank of India (RBI) as ‘overdraft’ six times between July 21 and August 2 in the current fiscal.

Besides, the government also availed loans through special drawing facility and ways and means advances on several occasions, official sources said. 

Highly placed sources said that the state government will again avail loan from RBI amounting to Rs 100 crore as open market borrowing.

During his two-week long visit to New Delhi recently Zoramthanga had called on Union Finance Minister Nirmala Sitharaman over the state’s financial condition and sought the Centre’s help. 

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