Arunachal govt not running into overdraft:Minister

Arunachal Pradesh Finance Minister Chowna Mein today said that the financial position of the state is stable and the state government was not running into overdraft as alleged.
"The financial position of the state is stable and therefore there is no cause for any panic or alarm as is evident by the fact that all usual government transactions such as salaries and pensions are continuing," Mein said in a statement.
"There is no iota of truth that the government is running into overdraft," the statement said.
"The decision of the state government to temporarily suspend government transactions in banks till April 5 next, which may be revoked any time, was resorted to check and avoid last moment rush of drawal to ensure financial discipline," it said.

It said that such measures by the government are nothing new as there have been instances of taking such regulatory measures in the past also.
Moreover, the validity of cheques issued by Works and Forests department has been extended till April 30 instead of March 31 to facilitate payments to contractors even in April, it said.

Stating that the government had given emphasis on all developmental schemes under different sectors for the current financial year, the Minister said, "The government is also committed to implement all innovative schemes and programmes as announced during the 2013-14 budget session to fulfil the aspirations of the people.

"The present government has also implemented the schemes and programmes announced in the 2012-13 budget in letter and spirit," he said.
"Moreover, for the first time, the present government has earmarked funds against each scheme for the next fiscal unlike in the past."
Mein's statement came a day after the Peoples' Party of Arunachal demanded his resignation following the decision of the state government to temporarily suspend all government transactions in banks till April.