The Hindu : Kerala News : Isaac: State to follow Centre’s line

Online edition of India's National Newspaper
Sunday, Mar 23, 2008
ePaper | Mobile/PDA Version

Kerala

Kerala

Isaac: State to follow Centre’s line

Staff Reporter

On rice procurement price

Isaac says State’s revenue deficit will be zero by 2011
‘Loans are not needed for reducing revenue deficit’

Thrissur: If the Centre increases the procurement price of rice to Rs.10.50 a kg, the State government will follow suit, Finance Minister T. M. Thomas Isaac has said.

He was addressing a discussion on ‘Union and State Budgets’ here on Saturday.

“No other government has thought as much about welfare of farmers as the LDF does. The government has envisaged benefits of Rs.120 crore for farmers. Raising the support price of rice from Rs.9 to Rs.10 a kg has incurred expenditure of Rs.30 crore,” he said.

He said the State’s revenue deficit would be zero by 2011.

“Union Finance Minister P. Chidambaram too has called for a zero revenue deficit target. But there is a difference in what both of us mean. Right-wing parties attempt to achieve this by curtailing revenue expenditure through measures such as cutting benefits for employees, reducing welfare activities and privatising PSUs. On the other hand, the alternative development model projected by the Left envisages zero revenue deficit by ensuring welfare of the poor. Loans are not needed for reducing revenue deficit. Instead, they should be used to enhance capital for development,” he said.

He maintained that unscientific creation of jobs was not the solution to unemployment. “Only industrial progress can solve the problem.”

Printer friendly page
Send this article to Friends by E-Mail

Kerala