Chairman of the 16th Finance Commission, Arvind Panagariya today asserted that Tripura’s economy is well managed and the state’s finances are in a sound position.

Briefing the media after the Commission held a consultation meeting with Tripura Chief Minister Dr. Manik Saha, cabinet Ministers and state government officials in Agartala, Mr. Panagariya stated that the state’s committed expenditure has declined which is a good sign.

He added that the state’s dependency on the agriculture sector is 30-35 per cent which is lower as compared to national average. He stated that urbanization is happening in Tripura at a faster rate.

He however said that Tripura’s per capita income is lower in comparison to the national average, nonetheless, it is making efforts to catch up with other states in the country.

Mr. Panagariya said, Tripura government in its recommendations has sought 50 per cent tax devolution from the Centre from the present 41 percent.

The Commission which arrived in Tripura yesterday is on a four-day visit of the state.

Later in the day, they will also hold meetings with officials from urban bodies, Tripura Tribal Area Development Council and representatives from various political parties.