"A solution has been put on the table. It is for Andhra Pradesh to decide whether they want the resources or they want to make an issue (out of it)," he said.
If the protected growth in GST revenue is reduced to 10 per cent, the Centre would save more than Rs 25,000 crore in 2020-21 if none of the states show any revenue growth. This would nearly amount to 0.1 per cent of the gross fiscal deficit and help the government in avoiding fiscal slippage to some extent in subsequent years.
'After the creation of Telangana, Andhra Pradesh has been left as an agrarian state.' 'Therefore, the special category status to this residual state was imminent and necessary for its development,' YSR Congress MP V Vijayasai Reddy explained in the Rajya Sabha.
'What matters is meeting the needs and expectations of the people who have voted to provide governance for the country.'
The current estimate, however, largely covers only the cost of infrastructure such as pipes, construction of borewells, overhead costs among others and not the expenditure to be incurred on operation and maintenance.
On the proposed Grand Alliance of the Congress and other parties in the state, Shah said the Telugu people had not forgotten how the Congress had treated their leaders like former (undivided) Andhra Pradesh chief minister Anjaiah and former prime minister P V Narasimha Rao.
Sales tax continues to top the state's largest source of income.
'There is a misconception that the Centre gives money for the development of Delhi'
Shah said a BJP government would protect and promote the cultural heritage and values of tribals.
Delhi CM Arvind Kejriwal said the govt will extend a loan of Rs 551 crore to two civic bodies; and alleged a situation was being created through the ongoing strike to prepare grounds for imposition of central rule.
World Bank along with economic think-tank National Institute for Public Finance and Policy have strongly pitched for making finance commission a permanent body like planning commission, although government has some reservations on it.
Finance Minister Nirmala Sitharaman on Monday presented the Budget for 2021-22 in the Lok Sabha that is expected to provide relief to the pandemic-hit common man as well as focus more on driving economic recovery through higher spending on healthcare, infrastructure and defence amid rising tensions with neighbours, As India emerges from the COVID-19 crisis, the ninth Budget under the Modi government, including an interim one, is widely expected to focus on boosting spending on job creation and rural development, generous allocations for development schemes, putting more money in the hands of the average taxpayer and easing rules to attract foreign investments.
Budget has several small steps which will boost growth
The Finance Commission on Monday suggested a re-look into the issue of decentralisation in view of the lack of transfer of resources to local bodies, but said the exercise should not "rob" the autonomy of local governments.
A Bench comprising Justice S B Sinha and Justice S H Kapadia took a serious view of the non-allocation of funds by the 12th Finance Commission to enable the continuance of the FTCs.
The BJP MLAs -- Vijender Gupta, O P Sharma and Jagdish Pradhan -- were evicted from the House after they trooped to the Well and raised slogans.
The BJP's relations with some alliance partners, including its oldest ally the Shiv Sena, Nitish Kumar's Janata Dal-United, Akali Dal and Rashtriya Lok Samta Party of Union minister Upendra Kushwaha, have been somewhat tense, and Shah's comments are being seen as an attempt to smooth their ruffled feathers.
'Modi is still immensely popular and, therefore, he can sustain any number of policy failures.' 'Modi himself has worn multiple faces so it would be naive to think that the Modi of 2021 will be the same Modi that will be campaigning for re-election in 2024.'
This is not her first stint in North Block or in leading a major economic ministry. She started Prime Minister Narendra Modi's first term as minister of state for finance, was made the commerce minister, and then became the defence minister.
The panel will also recommend a fiscal consolidation road map for the central and state governments, study the impact of GST on the divisible pool, and propose performance-based incentives for states.
At a pre-Budget meeting, the FM was asked to ensure that NBFCs come out of the liquidity crisis they are facing with the help of RBI. They also spoke about the futility of trying to achieve a 3 per cent fiscal deficit target over the medium term.
As India emerges from the COVID-19 crisis, the ninth budget under the Modi government, including an interim one, is widely expected to focus on boosting spending on job creation and rural development, generous allocations for development schemes, putting more money in the hands of the average taxpayer and easing rules to attract foreign investments.
Increase of 10% to 12% likely in a bid to improve citizens' mood after demonetisation.
State governments want the Centre to direct the 14th Finance Commission to compensate states for implementing pay scales, to be recommended by the pay panel.
On the present government's 'Make in India' campaign, C Rangarajan, former chairman of the Prime Minister's Economic Advisory Council, says it is important to first ask for whom it is being made.
According to the report, Indian economy is headed for a "perfect storm" worse than 1991 because government's cashflow by March 2013 is threatening to be Rs 110,000 crore (Rs 1,100 billion) more in the red than the expected Rs 500,000 crore (Rs 5,000 billion).
Former Finance Commission chairman A M Khusro, who died in New Delhi on Sunday, was a distinguished academic, scholar and a towering personality. Besides heading the 11th Finance Commission, he was the chairman of IEG.
Finance Minister P Chidambaram will soon have to decide whether to stick by his predecessor's choice of former Reserve Bank governor Y V Reddy for chairmanship of the 14th Finance Commission, to be set up next month.
Chief ministers of states like Andhra Pradesh, Kerala and Karnataka were among those who raised the issue of loan waver scheme for farmers.
Economists say there aren't many options with the government at present, given the drought-like situation which would only spur its spending.
The need for co-ordinated policy between Centre and states was likewise foreseen and assigned.
'Why do we make finance ministers go into contortions, to tell us that near 6% is 3.5%?' 'Why not encourage more open and full accounting so that the country knows the real picture,' asks T N Ninan.
The panel may include or seek inputs from former RBI Governor Urjit Patel, former chief economic advisor Arvind Subramanian, Sajjid Chinoy of the PM-EAC, Rathin Roy, among others.
Rajya Sabha member Pravin Rashtrapal, who has been re-nominated by the Congress from Gujarat for the biennial elections to the Upper House, on Friday filed his nomination papers in Gandhinagar.
Niti Aayog has come out with an initiative to improve governance in states.
He will be the first bureaucrat to head the central bank in almost five years.
GSTN said those who do not want to give their Aadhaar numbers would have to undergo physical verification.
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