Fiscal pressures emerging for several states: RBI
Mumbai, July 12 : Fiscal pressures are emerging for several states on the expenditure side, under committed heads, said a Reserve Bank of India (RBI) report, released here on Thursday.
Entitled "State Finances: A Study of Budgets of 2017-18 and 2018-19", the report is an annual publication that provides information, analysis and an assessment of the finances of state governments.
"Visible fiscal pressures are emerging for several states on the expenditure side, particularly under the committed heads and other state-specific schemes like agricultural debt waivers," the RBI said.
According to the report, in 2018-19, states' revenue capacity is likely to be augmented with the stabilization of Goods and Services Tax (GST) and the consequent expansion of tax base and efficacy.
"With the implementation of the E-way bill for inter-state movement of goods from April 2018, states could also strive for generating more revenues by locking in efficiency in tax administration," the report said.
If the revenue receipts of the states end up again in shortfall relative to budgeted levels, then better fiscal marksmanship and efficiency of expenditure is needed for providing robustness to state finances, it added.
While states' consolidated gross fiscal deficit (GFD) overshot the budget estimates in 2017-18 due to shortfalls in own tax revenues and higher revenue expenditure, for 2018-19, states have budgeted for a correction, mainly emanating from a modest revenue surplus.
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Adequate LPG stock in Chhattisgarh, no need to panic, says CM Sai
Raipur (PTI): Amid reports of shortage of commercial LPG cylinder in several parts of the country due to the US-Israel-Iran conflict, Chhattisgarh Chief Minister Vishnu Deo Sai on Tuesday assured people that they need not worry about the availability of cooking gas in the state.
He asserted that adequate stock of LPG as well as petrol and diesel was available in the state.
Sai said in a statement that authorities have been directed to regularly monitor stock at gas agencies and keep a close watch on the supply chain. Necessary instructions were issued to officials in all districts to ensure a smooth supply of LPG.
The chief minister instructed officials to take strict action if any complaint of black marketing or hoarding of LPG cylinders is received.
Sai urged state residents not to pay attention to rumours and to book cooking gas cylinders as per their actual requirement.
The government was fully alert to ensure the availability of essential commodities to citizens, he emphasised.
Meanwhile, the Chhattisgarh Hotel and Restaurant Association has issued an advisory to hotels, restaurants, caterers and other food businesses across the state, urging them to maintain calm and avoid panic buying.
In the advisory, Taranjeet Singh Hora, president of the association, asked members to maintain coordination and immediately inform it about any major disruption in LPG supply.
He cautioned businesses against hoarding cylinders, saying such practices could worsen the situation for the entire hospitality sector.
The association advised hotels and restaurants to prioritise essential kitchen operations, core menu items and already committed banquet events.
Use electric cooking equipment wherever possible for emergency and staff kitchens such as induction cooktops, electric hot plates, electric rice cookers and kettles, the advisory stated.
