The organization called State Finance Commission has resumed functioning as profit earning organization after a long gap of fifteen years. The main function of the Corporation is to provide loans and disbarments to organizations that create avenges of employment for the youth and unemployed people of the state. After remaining in red for about 15 years, the Corporation has once again started generating net profits, besides sanctioning and disbursement of term loans. During the last financial year, loans amounting to about Rs. 18.80 crore have been sanctioned and Rs. 15.23 crore disbursed to the beneficiaries. SFC is the first public sector undertaking, which after a gap of 9 years, has now updated Audited Balance Sheets and Profit and Loss Accounts. It has now cleared a 7 years backlog of audited accounts. We are glad that that the Corporation has been able to turn its negative net worth of Rs. 104.58 crore in 2009 into a positive net worth of Rs. 3.67 crore as on ending March 2013, hoping that the positive network of the Corporation will perform far better than one expects. It is a good sign for the financial health of the State. Professional and financial restructuring of the Corporation as envisaged by the State Finance Minister is a welcome step.
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