Orissa to bring in Bill to amend FRBM Act

BHUBANESWAR: The State government will bring a bill in the ensuing session of the Assembly to amend the Fiscal Responsibility and Budget Management (FRBM) Act as per the recommendation of the Thirteenth Finance Commission (TFC). A decision to this effect was taken at the Cabinet meeting today presided over by Chief Minister Naveen Patnaik. Compliance of the TFC recommendations will benefit the state government by Rs 2,164 crore which includes Rs 1,750 crore state specific grants and Rs 400 crore debt relief. The TFC recommended that revenue deficit will have to be maintained at zero percent from 2011-12 onwards. Besides, the gross fiscal deficit will also have to be contained at 3 percent. According to the TFC, the debt/GSDP ratio should be 30.6 percent in 2011-12, 30.2 percent in 201213, 29.8 percent in 201314 and 29.5 percent in 2014-15. Besides, the cabinet agreed to the TFC recommendation that there should be an independent review mechanism to assess the implementation of the FRBM. The cabinet decided that the benefit of family pension will be extended to widows, divorcees and disabled girls irrespective of age if the monthly income is not more than Rs 4,440. Earlier, unmarried girls upto the age of 25 were given family pension. A proposal to amend the Orissa pension rules was also approved. Earlier, no objection certificate (NOC) for three years before retirement was needed. Now, NOC of one year before retirement will have to be submitted. It was decided that registration fee on title deeds submitted for bank loans will be reduced from 2 percent to 0.5 percent subject to a maximum of Rs 2,000. Similarly, registration fee on reconveyance of mortgage property on agricultural loan has been reduced from two to one percent subject to a maximum of Rs 500. The Orissa Civil Court Act, 1984 will be amended to empower civil judge (junior division) to try cases having value of property upto Rs 50,000 with the permission of the High Court. Earlier, the upper limit was Rs 10,000. The cabinet decided that five outstanding sportspersons Lazarus Barla, Prabodh Tirkey, Jyoti Suneeta Kulu (all hockey players), Rachita Mistry (athelete) and K Ravikumar (weightlifter) will be given land measuring 60 feet X 40 feet at Chandrasekharpur area of the city. The premium of Rs 16.53 lakh for each of the plot of land was waived. The appointment of retired IAS officer Chinmoy Basu as the chairman of the Orissa Public Service Commission was approved. The district and subordinate stenographer service rules will also be amended.