ORISSA- Vote Shifts

himself the proponent of the idea, during his earlier brief term in that office, of siphoning off small savings from government ledgers to those of a new financial institution, to have been called National Small Saving Bank. With this move, only the part of net small savings collection that accrues to the centre will figure in the centre's fiscal deficit. The rest will figure in the fiscal deficit of the states and cause no embarrassment to the centre. At the same time, given the need to mobilise domestic savings and for governments, central as well as state, to remain involved in substantial infrastructure investment, small saving will continue to be tapped.