Three months are left for the current financial year to end. In such a situation, two Panchayat elections. And now after such a long time, the first installment of the allocation of the Fifteenth Finance Commission has come to the hands of the state. More stringent conditions have been imposed. In the decree issued by the Modi government, it has been said that if the money does not reach the three levels of the Panchayat within 10 days, then Bengal will have to pay more interest than the market rate. Meanwhile, the Center is owed crores of rupees. The state is facing a huge financial burden in the post-Covid scenario. The Modi government is imposing conditions one after the other. First in the housing scheme, now in the money of the Fifteenth Finance Commission.
What happened after all? Recently, while approving the allotment of the housing scheme, the Center had also imposed several conditions. This is reorder. This order has been issued on allotment except one week before the commencement of the last quarter of the financial year. Earlier, according to the rules of the 14th Finance Commission, if the money did not reach the Panchayat within 15 days, the Reserve Bank had to pay interest at a fixed rate to the state. This time it has been reduced to 10 days in the Fifteenth Finance Commission. And interest rates are left to the market. Otherwise, the state will have to pay a huge amount. Many people think that this is practically a punishment. That’s why emphasis has been started on this.
How much money did Bengal get Bengal was to get the first installment of the Fifteenth Finance Commission in the month of August-September in the current financial year. But with online audits accounting for 25 percent of the cost of previous years, there’s a fork in the road. The Modi government said that the money for the current financial year will be received only after its completion. Bengal also fulfills that condition. Ultimately, the Center was practically forced to release the first installment of Rs 996 crore 56 lakh. According to Navana sources, a letter from New Delhi on 23 December informed about this. And it is stipulated that the State shall distribute this money to all Gram Panchayats, Panchayat Samiti and Zilla Parishad within 10 days of its arrival. It is also mandatory to spend it on projects taken up under the 15th Finance Commission.
Did you know that the 15th Finance Commission money is mainly spent on projects related to drainage and drinking water supply? And various infrastructure development works starting from road construction in rural areas under unconditional funds. And about 650 crores of the first installment of this unconditional fund is still withheld by the central government. However, Navanna has decided that the allocated amount will be sent to the concerned panchayats soon. Work will also start soon.