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Fiscal deception

Fiscal deception
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The myth that the previous government in the state was doing quite good in the field of finances proved a hoax as the state’s governor has exposed the past government’s claim of ‘all is being well’ on the financial front.
On Thursday the governor administration gave a detailed view about the rising liabilities on various developmental projects and said that the administration will approach the federal government for a one time grant to clear all the liabilities piled up because of non completion of various vital projects in the state. Though these projects have been funded, mostly by central departments, the state has failed to complete them.
Vohra asked the State Planning, Development and Monitoring Department to urgently prepare a comprehensive State-wide list of all development projects which have been pending for years for want of the required financial resources resulting in speedily growing cost overruns. He also called for an assessment of the total funds required for completing all such projects within the next 2 years.
The issue of approaching the federal government came up during a review meeting called to examine the status of public works projects. The Governor observed that after Chief Secretary has drawn up a reliable assessment he would address the Union government and request for a one -time sanction of a special grant to complete all pending projects and put to use the investments made in these works.
What prompted the governor’s administration to approach the federal government for fiscal help was that a good number of old projects have been left either mid way or have been witnessing work at a snail’s for want of resources. Also, there are a good number of projects which were taken up without the requisite approvals which were also required to be completed to salvage the large expenditures already incurred.
The administration has now decided to study the incomplete projects and catagorise them on the basis of involving very large expenditures already made, and suggest the kind of systemic hurdles which may be improved to ensure against unauthorised sanctions of building works being made in future.
The past government had made us to believe that the state’s finances are managed in a professional way and provisions for all those works that have been either left midway or projects which have seen cost escalation, have been taken care of.
However, the administration’s view about the state of the finances has exposed these hollow claims and proved beyond a point that all these measures announced were mere gimmicks of highest order to deceive the common masses.
The past government not only violated the basic norm of going ahead with a developmental project but also conducted various irregularities in various SOP’s that are otherwise to be followed while dealing with these projects.
The government had failed to maintain strict fiscal discipline and ensure that a development work commences only after accord of financial approval and availability of adequate financial resources.
The state of affairs on various projects that have been left midway or abandoned totally suggest that either the state or the federal government has not displayed sincerity towards the people of the state. Going by the way the projects have been handled it seems that both have failed the people and that too miserably.

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