• PAGE ONE
• INDEX
• HOME

Assam seeks extension of RBI overdraft limit

Our Bureau

GUWAHATI, April 6

THE Assam Government has requested the Centre to extend the RBI overdraft limit from the present 10 days to 14 days and also to increase the monthly ways and means advance limit from Rs. 114 crores to Rs. 342 crores.

Speaking at the standing committee meeting of the Inter-State Council in New Delhi recently, the Assam Industries and Commerce Minister, Mr. Gunin Hazarika, on behalf of the Chief Minister, put forth some suggestions to the Centre and the RBI to obviate the perpetual crisis-like situation of the State finance.

Mr. Hazarika urged the Centre to raise the rate of royalty on crude oil from Rs. 750 to Rs. 1,210 per tonne as the international price of crude had increased by 115 per cent during the last one year.

Among various other suggestions put forth by the State was the request for permission to impose consignment tax on tea packets which could be a substantial source of State's income.

Mr. Hazarika also urged an increase in financial assistance to the States on account of natural calamity and said that such assistance could be expedited by prompt visit of the affected areas by the teams of the Central representatives.

The Inter-State Council will meet on May 20 under the Chairmanship of the Prime Minister, Mr. Atal Bihari Vajpayee, when decisions on the proposals from the States are expected to be taken.