Pay for March, April to wait till May
Source: Hueiyen News Service
Imphal, April 21 2012:
Even though the state government has been able to save itself from the predicament of RBI ban along with depositing Rs 100 crores received as Central Assistance from the Union government along with another Rs 97 crores from Market Borrowing in the State's account, payment of salary to its employees for the months of April and March is likely to wait till May next.
Sources revealed that due to the lack of adequate funds in the State's account, there was apprehension that the RBI may impose ban.
But after adequate amounts have been deposited to the State's account, all apprehensions have gone.
However, there is still an apprehension that if the state government releases the salary of its employees for the month of March in April, there is likelihood of experiencing overdraft again.
The source further revealed that the state's Finance Department has taken up certain strategic measures to prevent any possibility of facing overdraft situation to avoid RBI ban.
Accordingly, the government has prevented issuing of all government bills, dual cheque authorities and release of funds for salaries.
As of now, the government has prevented the release of salaries of its employees for the month of March and the ration money for the security forces.
However, some of the employees have withdrawn their salary for the month of March before the state's order came into force, the source noted.
It is said that the state spends around Rs 250 crores in giving the salaries to its employees in a month alone.
The salaries of the IAS and IPS are given by the Central government.