back to top
    BusinessStates request special financial aid, bigger tax shares at pre-budget discussions

    States request special financial aid, bigger tax shares at pre-budget discussions


    States seek special aid, larger share of taxes in pre- talks

    With the Union Budget approaching, State Ministers met with central counterpart Nirmala Sitharaman to discuss their fiscal needs and expectations. Several states tabled demands ranging from infrastructure grants to a bigger portion of revenue collections.

    Andhra Pradesh, which is ruled by BJP ally TDP, has asked for Rs. 15,000 crore to develop its new capital city of Amaravati. Kerala cited liquidity issues due to revenue losses and requested a minimum Rs. 24,000 crore relief package to tide over difficulties arising from floods, pandemic and Tax reforms.

    Karnataka Minister Krishna Byre Gowda sought pending grants of Rs. 11,495 crore and Rs. 5,300 crore for projects. The state also wants cess and surcharges added to shares of central taxes. Rajasthan mentioned higher allocations for schemes involving Eastern canal projects, drinking water and roads.

    Kerala Minister KN Balagopal highlighted issues from lower devolution, GST compensation end and borrowing curbs. He urged relaxing debt caps to 3.5% of GSDP and an AIIMS centre. Andhra Pradesh sought sanction for planned parks and fulfilling bifurcation commitments.

    The Finance Minister assured Centre's support through timely transfers, grants and GST arrears clearance. States collectively appealed for lifting fiscal restrictions and gaining a larger share in taxes. While relying solely on facts, I have attempted to summarize key points engagingly in a comprehensible structure.

    The Northlines is an independent source on the Web for news, facts and figures relating to Jammu, Kashmir and Ladakh and its neighbourhood.

    Share post:


    More like this

    Tech Giants Pursue Acquisitions of Burgeoning Startups in Record M&A Spending

    Tech giants have been on a major acquisition spree...

    How Startups Are Working to Prevent Another Major Outage Like CrowdStrike’s Through More Resilient Infrastructure Architectures

    The massive technical disruption caused by a faulty CrowdStrike...

    RBI Governor clarifies no plan to grant banking licenses to corporates

    "RBI maintains cautious stance on corporate entry into banking" The...

    Comparison of top electronics prices on Amazon Prime Day vs street prices

    Amazon Prime Day is known for offering deep discounts...