Agartala: Jan 30: The economy of Tripura is well-managed, and the financial condition of the state is strong, according to Dr. Arvind Panagariya, Chairman of the 16th Finance Commission. He made these remarks while addressing the media today.
A 12-member delegation led by Dr. Panagariya arrived in Agartala yesterday. A meeting was held this morning with Chief Minister Professor Dr. Manik Saha and Cabinet Ministers in attendance.
The delegation included Finance Commission members A. N. Jha, Annie George Mathew, Dr. Manoj Panda, Soumya Kanti Ghosh, Commission Secretary Hritwik Pandey, Joint Secretary Rahul Jain, Director K. Balaji, Joint Director Kumar Vivek, Deputy Director Sandeep Kumar, PPS Meena Mahendu, and Cashier Rajesh Kumar Sharma.
During the press conference, Dr. Panagariya highlighted the economic issues of the state in detail. He explained that the commission, formed every five years, consists of a chairman and four members, along with other senior officials to assist. The commission decides how much tax revenue will be distributed between the Center and the states over the next five years and the amount of grant allocated from the Center to the states. It also determines whether any special grant will be given to the state for its development. The focus today was on the overall development of the state, infrastructure development, and addressing regional challenges.
Dr. Panagariya noted that urbanization is happening rapidly in Tripura, and the state’s per capita income is less than the national average. However, Tripura is striving to keep pace with other states. He mentioned that the Tripura government has sought a 50 percent tax state share from the Center in its recommendation, up from the current 41 percent.
He acknowledged the problems of North East India, including Tripura, stating that the issues in this region are almost similar. These will be considered while making recommendations to the President. The 16th Finance Commission has so far visited 17 states, including Tripura, and plans to visit eleven more states. In North East India, all states except Mizoram and Arunachal Pradesh have been visited.
Dr. Panagariya reiterated that the economy of Tripura is well-managed, and the state’s dependence on agriculture is 30-35 percent, which is less than the national average.
