Odisha finances to bleed further as Centre reduces tax share, grants
The slowing economy has not only resulted in low growth in Odisha s own revenue but also those that devolve from the Centre.
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Tax devolution and grant for Odisha till October this year is 21 % and 15.5 % less respectively as compared to the corresponding period in 2019. (Photo | PTI)
Express News Service
BHUBANESWAR: The storm over GST compensation might have settled down with the states agreeing to Option 1 - allowing the Centre to borrow from open market to meet the shortfall, significant reduction in the share of central tax and grant will deal a deadly blow to states that are already financially hit by the COVID-19 pandemic.
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Principal Secretary of state Finance Department Ashok K Meena has written an official letter in this regard to the Additional Chief Secretaries, Principal Secretaries, Commissioner-cum-Secretaries and Secretaries to Government of all departments in the state.
As suggested by the empowered committee for fixation of modalities and parameters for empanelment of different banks to handle banking transactions and deposits of SPSUs and SLAS, the notified banks have been shortlisted for the FY 2020-21, the letter stated.
The empanelled banks are as under:
Notably, a score card of the empanelled banks has been prepared. The minimum eligibility score was kept at 50% with banks having minimum 100 branches including rural branches in the state.