SHILLONG, Sept 10: Opposition leader Mukul Sangma has slammed the NPP-led Meghalaya government for increasing its borrowing limit to service the repayment of both principal and interest, which he warned would lead the state to a “disastrous future.”
Addressing the media, Sangma called the government’s decision to increase the borrowing limit a “red flag.”
“You (government) are further borrowing to service the repayment of principal and interest. This is where the concern lies and this is where the government is lying to the people…I condemn this attitude as this is going to lead the state to a disastrous future as has been honestly and truly reflected by the red flag given by the CAG. It is a red flag,” he said.
Related Posts:
Stating that one cannot club this together with a soft loan provided by the government of India, the former chief minister said, “You may borrow from the government of India, which is considered as a soft loan where the latter gives you lots of space to manoeuvre keeping in mind the constraints of the state.”
Further, Sangma alleged the government adopted a well-scripted modus operandi by deviating from the fiscal discipline.
Emphasizing the need to adhere to provisions of the Meghalaya Fiscal Responsibility and Budget Management (MFRBM) Act, 2006, the TMC leader said, “There was an amendment and the government have created this provision to allow them to borrow more so they are saying it is allowed but I am telling you both government of India to a great extent have not examined it properly, that is why they piggy ride on the government of India sometimes but fiscal discipline is fiscal discipline.” (NNN)
