The State continues to face a tough situation in terms of finances as it could not achieve the targets set for raising revenues on expected lines.
As a result, the State is forced to avail various facilities of financial accommodation provided by the Reserve Bank of India for meeting its immediate requirements pertaining to a host of welfare and developmental programmes initiated for different sections. The tight financial situation can be gauged from the fact that the State opted for special drawing facility provided by the RBI on all days of May totalling ₹711.65 crore.
Going by the data given in the RBI’s bulletin released recently, the State had availed of ways and means advances amounting to ₹ 1,295.52 crore on all the 31 days in May. In addition to special drawing facility and ways and means advances, the State went for overdraft of ₹912.98 crore for 18 days during May, according to the RBI bulletin.
