"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.
It is believed that the commission in its report has suggested higher allocation to the states during five years starting from next fiscal.
Finance Minister Pranab Mukherjee will hold a pre-Budget discussion with state governments on January 13.
The TDP chief said he tried to speak to Prime Minister Narendra Modi as a 'courtesy' to inform him about the decision to quit but he did not come on line.
The government should speed up the disinvestment process to generate funds for meeting the new needs such as environment protection, 13th Finance Commission chairman Vijay Kelkar said.
Shah said a BJP government would protect and promote the cultural heritage and values of tribals.
FinCom prescribes scrapping of effective revenue deficit.
A day before unveiling the Budget, Finance Minister Pranab Mukherjee will table the Economic Survey in Parliament on Thursday which will take stock of the economy and also the impact of stimulus on industry.
Food prices have been relentlessly rising and was over 19 per cent year-on-year in the last week of November.
Tamil Nadu chief minister M Karunanidhi said on Thursday that 'performing states' like Tamil Nadu have not been receiving their 'due share' from successive finance commissions, who, he alleged, gave more importance to backward states. He called for more allocation to the state from the Central Relief Fund, "considering the natural calamities," the compensation for which, especially crop loss, needed to be substantially increased.
The number of centrally sponsored schemes have increased to 35 in FY22 from 30 in FY21 and central sector schemes have increased to 704 from 685 in the previous year, reports Dilasha Seth.
Finance Minister Pranab Mukherjee may have earned plaudits for projecting a decline in the fiscal deficit to 5.5 per cent of gross domestic product (GDP) for 2010-11, but his targets for revenue deficit reduction are relatively modest and represent a departure from the 13th Finance Commission's recommendations.
The report for the period ended March 2009, presented in the assembly by Deputy Chief Minister S K Modi, who holds charge of the finance department, said revenue receipts between 2008-09 increased by Rs 4770.97 crore (Rs 47.7 billion) mainly due to grants-in-aid and share of Union taxes from the Centre.
Finance Minister Pranab Mukherjee on Thursday said that financial year 2009-10 was ending with clear signs of economic rebound and the growth would rise to about 8.5 per cent in the next fiscal.
Any reduction in devolution could aggravate the strained relations between the Centre and some opposition-ruled states on a number of issues, including CAA.
In view of the severe drought and growing prices of essential commodities, Prime Minister Manmohan Singh has constituted a crisis management group of Ministers (GoM) for monitoring the situation on a day-to-day basis.
There are various estimates of India's debt to GDP ratio, but the consensus is that that it would be over 80 per cent at the end of the current fiscal year.
Jaitley said focus is on larger expenditure on social sector.
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.
The losses in state elections in Rajasthan, Madhya Pradesh, and Chhattisgarh have put the ruling party under pressure to announce swift measures aimed at addressing rural distress and lack of employment.
The 13th Finance Commission has outsourced a major part of the exercise for devising ways to better manage ecology, environment in the North-East to two prominent organisations. The commission has entrusted two renowned institutes of the country -- The Energy and Resources Institute and the Bhopal-based Indian Institute of Forest Management -- with the job to explore ways to better manage ecology, environment and climate change consistent with sustainable development.
'We will not compromise on it. We will not make any deferred payments or cuts.'
Out of the GST of 12 per cent, states should receive seven per cent while the rest five per cent should go to the Centre's kitty, said the task force.
Competition watchdog CCI needs to scrutinise the practices of the state-owned companies as they are not above the law of competition, the Chairman of the 13th Finance Commission, Vijay Kelkar said on Friday.
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.
It shows that states would require a compensation to the tune of at least Rs 1.67 trillion in 2024-25, as none of them would be able to achieve a 14 per cent growth every year.
The GST Council also decided that a committee of officers will be constituted to examine the simplification of forms for annual return and reconciliation statement.
Consumers are paying an exorbitant 180 per cent tax on petrol, and 140 per cent on diesel in Delhi and in most other towns in India. Little wonder then that the central government expects a staggering Rs 3.46 trillion by levying excise duties on retail sale of the two fuels this year, and Rs 3.2 trillion the next. States would generally have had reason to cheer, as they command a 41 per cent share in Centre's tax revenues. But as the Centre has raised excise duties in the form of "cess," the revenue proceeds are by nature not shareable with states.
The Goods and Services Tax, proposed to be introduced from April 2010, would benefit the economy by at least $15 billion
The government on Thursday decided to ask the 13th Finance Commission to map the road for achieving fiscal deficit targets by including off-budget subsidies like oil, food and fertiliser bonds estimated at over Rs 100,000 crore (Rs 1,000 billion) in the Budget.
The commerce ministry will approach the 13th Finance Commission next month suggesting measures to reduce the incidence of local taxes on exports. With the state levies accounting for 6 per cent of the cost of exporters' consignments, the ministry wants to ensure that these taxes are rebated on the lines of refund of Central levies through different schemes.
Prime Minister Narendra Modi's idea of cooperative federalism is expected to be on display in the 2015-16 Budget.
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.
Chief ministers of states like Andhra Pradesh, Kerala and Karnataka were among those who raised the issue of loan waver scheme for farmers.
West Bengal Chief Minister Mamata Banerjee on Saturday tore into Narendra Modi government, accusing it of bulldozing the federal structure and running a Presidential form of government, drawing sharp reaction from the Bharatiya Janata Party.
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.
Divestment also was not covered. One would have expected divestment to be a major instrument for raising fund for various projects, as was the case in the last 3-4 budgets but we did not see it at all.
Shah also attacked the Congress and said "the party was finished in the country due to corruption and family rule."
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