THIRUVANANTHAPURAM: Despite the state government mobilising internal resources to tide over the currency crunch, treasuries’ functioning was thrown out of gear, certain to affect the welfare pension distribution during the Vishu-Easter season.
According to the Finance Department officers, the Reserve Bank of India handed Rs 64 crore on Wednesday against a request of Rs 176 crore, leaving 23 treasuries short of cash.
The Treasuries Department on Tuesday received Rs 62 crore against a demand of Rs 124 crore.
Result: Ten treasuries did not have any allocation.
But there’s a silver lining. The Treasuries Department managed to distribute Rs 159 crore on Wednesday, courtesy government sourcing internal funds.
As per the government’s direction, various departments such as the Lotteries Department and Beverages Corporation remitted their daily collections to the treasuries in liquid currencies. KSFE topped the list remitting Rs 50 crore.
Finance Minister Thomas Isaac said the government had transferred the amount required for salary and pension payments in time - Rs 1,400 crore for the payment of salary arrears and Rs 900 crore for the first instalment of pension arrears in the beginning of the fiscal.
The government had also transferred Rs 500 crore to different cooperative banks on April 6. But a majority of them are yet to receive money owing to the cash crunch.
“Though the government painstakingly sourced and transferred the money, the currency crunch has affected its distribution,” said Isaac.
“RBI had claimed currency could not be transported to the state owing to truckers’ agitation. But even after the stir ended, there is no respite in sight,” he said.