Uday scheme behind Raj’s fiscal imbalance: Fin panel

Uday scheme behind Raj’s fiscal imbalance: Fin panel

Stressing that adoption of the Centre’s Uday scheme in Rajasthan by the previous BJP government led to fiscal imbalance, the 15th Finance Commission on Monday suggested that state government must give priority to tourism sector, rain water harvesting, optimum use of solar energy and education sector for accelerating economic growth and development process in the state.

It also observed that the state hasn’t achieved even 1% of its tourism potential and there is a need to improve air connectivity in the state. Under Uday scheme, the GoR had taken over 75% of total debt amounting to Rs. 62,422 crore during the period 2015-16 and 2016-17 to bail out discom companies. The debt to GSDP ratio had increased from 23.87% in 2012-13 to 34.15% in 2017-18.

“First, there is a drop in the fiscal deficit of the state. Earlier, it was above the national average. But, when the state adopted the Uday scheme Read More

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