Finance Minister Nirmala Sitharaman has sought the cooperation of all the States and Union Territories to achieve aspirations of the people. She was holding pre-Budget consultations with state Finance Ministers in New Delhi today. The Minister assured full cooperation from her side to achieve the desired goals.
She said no goals can be achieved if the States and the Centre do not work together in cohesion. Mrs Sithraman said the Centre has the responsibility of setting the direction of the economic growth. She said it is the responsibility of the States to implement it in the field.
The Minister said an unprecedented level of devolution of funds has taken place from Centre to the States which has increased in recent times from 8 lakh 29 thousand 344 Crore to 12 lakh 38 thousand 274 Crore rupees.
She said the share of the States in tax devolution has increased from 32 per cent under 13th Finance Commission to 42 per cent in 14th Finance Commission during the first tenure of the present Government.
The Minister has already held pre-budget consultations with economists, representatives of infrastructure, agriculture, rural development, social, financial sectors and capital markets. The Union Budget for current fiscal will be presented in the Lok Sabha on the 5th of next month.
