The newly elected Deputy Chief Minister of Tripura, Jishnu Debbarma on Monday warned that his State stares at a fiscal deficit of Rs 11,355.53 crore.
Debbarma also came down heavily on the previous Left Front Government accusing it of implementing schemes and projects without ensuring flow of funds.
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The Deputy Chief Minister also alleged that the Manik Sarkar government did not utilize majority of the central funds that the state government had received during its last five years of rule.
Debbarma said the Centre had sanctioned huge amounts of funds but most of the projects remained incomplete because the Left Front government did not release the entire amount.
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As such, the Deputy Chief Minister said that the new government has to work out alternative fund raising avenues to strengthen the state exchequer.
Debbarma also added the State has a huge liability of repaying loans with interest rates of at least 7.2 per cent annually.