Approval process for additional borrowing by states simplified
New Delhi, June 25: The government on Monday simplified the process for granting additional fiscal deficit limit to eligible states over and above the three per cent limit of the state GDP.
An official statement said that from now on, the government will process each proposal independently, as and when it is received, as opposed to the earlier process of bunching all state proposals into a single proposal.
During the NITI Aayog Governing Council meeting held June 17, some states had pointed out that the permission accorded by the Finance Ministry to eligible states was sometimes delayed due to bunching of proposals received from different states at different intervals into one consolidated approval.
"The government, keeping in view its policy for cooperative federalism, has henceforth decided to simplify the process of approval of such additional borrowing limits requested by states. It will process each proposal along with complete information independently as and when it is received in contrast to the earlier process of bunching all proposals into a single proposal," the statement said.
"It is expected that this will further enhance transparency and predictability in the borrowing calendar and boost capital expenditure in eligible states," it added.
States can borrow up to three per cent of the Gross State Domestic Product (GSDP) and are eligible for flexibility of 0.25 per cent over and above this if their debt-GSDP ratio is less than or equal to 25 per cent in the preceding year.
They are further eligible for an additional borrowing limit of 0.25 per cent of GSDP in a given year for which the borrowing limits are to be fixed if the interest payments are less than or equal to 10 per cent of the revenue receipts in the preceding year, the statement said.
"The flexibility in availing the additional limit under either of the two options or both will be available to a state only if there is no revenue deficit in the year in which borrowing limits are to be fixed and the immediately preceding year," it added.
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AIITA welcomes Karnataka’s ban on obscene songs in school events
Bhatkal: The Karnataka unit of the All India Ideal Teachers Association (AIITA) has welcomed the Karnataka government’s decision to strictly ban school children from dancing to obscene songs during educational and cultural programmes in government, aided, and private schools across the state.
AIITA Karnataka State President M. R. Manvi congratulated the government for taking what he termed an important step to preserve the sanctity of education.
“Such decisions to safeguard the dignity of school children and uphold the values of education are the need of the hour. This rule should not be limited to government schools alone but must be strictly implemented in all private educational institutions as well,” he said.
He further urged the government to address other concerns within school programmes.
“The government should not only prohibit obscene dances in the name of school anniversaries, but also ensure that plays and dialogues that incite religious hatred are avoided. Schools should be centres of harmony, not platforms for spreading hatred,” he added.
According to a recent circular issued by the Department of School Education and Literacy, obscene dances are adversely affecting the mental health and moral values of students.
In this regard, schools have been advised to use songs that promote nationalism, positive thinking, the greatness of Kannada culture, and value-based traditions instead of inappropriate content during programmes.
The circular also emphasises that students should be dressed in decent attire.
AIITA also backed the department’s warning that disciplinary action would be taken against head teachers if such guidelines are violated. The association has further demanded that district Deputy Directors of Public Instruction strictly monitor the implementation of these rules.
