IT News
Imphal, Nov 8:
Chief Minister N. Biren Singh held vital discussions with the 16th Finance Commission, aiming to secure and strategically deploy central funds to drive economic progress in the state. The discussions focused on the efficient use of funds received under Centrally Sponsored Schemes, proposals for grants-in-aid to support development across key sectors, and the implementation of targeted projects intended to catalyze Manipur’s economic transformation.
The Commission, led by Chairman Dr. Arvind Panagariya, has set its sights on fostering economic growth in Manipur through judicious fund allocation. By aligning state projects with central financial support, the Commission seeks to maximize economic outcomes and encourage sustainable development within the region.
Earlier this month, Dr. Panagariya underscored the importance of states enhancing their own revenue capabilities during a press conference in Kohima, Nagaland. He highlighted the need for states to build fiscal self-reliance, while also reaffirming that the regular distribution of central grants would remain consistent. “The Commission generally encourages states to maximize their own revenue generation,” Panagariya stated, noting that increased revenue is directly tied to a state’s Gross State Domestic Product (GSDP). “Higher revenue leads to a larger GSDP, which in turn raises capital incomes—a desirable outcome for economic resilience,” he explained.
Addressing concerns about fiscal constraints faced by resource-limited states like Nagaland, Panagariya mentioned that while special category status was once linked to Planning Commission grants, states could still achieve balanced development through effective central support and by strengthening local revenue streams.
