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States press for higher revenue share and grants

Andhra Pradesh, led by the Telugu Desam Party, requested a substantial financial grant of Rs 15,000 crore for the development of its capital, Amaravati.While Kerala appealed for a special package amounting to Rs 24,000 crore to address liquidity issues exacerbated by recent economic pressures.

News Arena Network - New Delhi - UPDATED: June 24, 2024, 01:07 AM - 2 mins read

States press for higher revenue share and grants

In a significant pre-Budget consultation meeting chaired by Union Finance Minister Nirmala Sitharaman, state Finance Ministers from across India voiced a series of demands aimed at bolstering their respective economies and infrastructure.

The meeting, held on Saturday, saw state representatives seeking various forms of financial support and policy changes from the Centre to address pressing fiscal needs.

Key Demands Highlighted

Andhra Pradesh:

Andhra Pradesh, led by the Telugu Desam Party, requested a substantial financial grant of Rs 15,000 crore for the development of its capital, Amaravati. Additionally, the state urged the Centre to approve a mega textile park and an integrated aqua park to enhance the fisheries sector.

Finance Minister Payyavula Keshav highlighted the fiscal challenges faced by Andhra Pradesh following the bifurcation in 2014, emphasizing the state's need for robust infrastructure projects to stimulate economic growth.

Kerala:

Kerala appealed for a special package amounting to Rs 24,000 crore to address liquidity issues exacerbated by recent economic pressures.

Karnataka:

Karnataka's Finance Minister Krishna Byre Gowda pressed for the release of Rs 11,495 crore in special grants recommended by the Finance Commission. The state also sought Rs 5,300 crore in promised assistance for the Upper Bhadra Water Project.

Karnataka also advocated for cesses and surcharges to be included in the divisible pool of central taxes, ensuring states receive their rightful share. A special package for the development of Bengaluru was also sought.

Rajasthan:

Rajasthan's Finance Minister and Deputy Chief Minister Diya Kumari emphasized the state's requirements for increased allocations towards projects such as the Eastern Rajasthan Canal Project, Jal Jeevan Mission, and various national highways and railway lines.

Union Finance Minister Nirmala Sitharaman reiterated the Centre's commitment to supporting states through timely tax devolution, Finance Commission grants, and the settlement of GST compensation arrears.

She acknowledged the diverse demands put forth by the states and assured that these would be considered seriously in the upcoming Budget deliberations.

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