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Pondy may face financial crisis by January

News18test sharma |

Updated: November 12, 2011, 12:00 PM IST
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Pondy may face financial crisis by January
PUDUCHERRY:  The Puducherry government will face a severe financial crisis by January, Union Minister of State for PMO V Nara..

PUDUCHERRY:  The Puducherry government will face a severe financial crisis by January, Union Minister of State for PMO V Narayanasamy said here on Friday.
Briefing reporters, Narayanasamy said that even though the Centre had offered adequate  financial resources, the Puducherry administration had not secured them by submitting projects.
Pointing out lapses in financial management, he said that government was forced to divert funds from different departments to provide Deepavali bonus and salary to the government  employees. Money from Provident Fund, Power Corporation and those kept for land acquisition have been utilised for the purpose, he said.
The administration has flouted all guidelines, which will not be accepted during auditing. The Lieutenant Governor should initiate action against the administration for financial mismanagement, he said. The minister also said that the government did not take any steps to mobililise funds through  market borrowing. Further, he said that the Central government was ready to provide funds to the Union Territory under different schemes, but the administration due to its lethargic attitude  was not taking any step to get the funds.  The Puducherry administration is yet to approach the Parliament members to get funds from the Centre, he charged. He also said that an impersonation took place in the appointment in India Reserve Battalion. Instead of one P Saravanan of Karaikal, another person in the same name had completed training in IRB with the full knowledge of Puducherry police, he alleged.

First Published: November 12, 2011, 12:00 PM IST
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