Claiming taxes collected from the south were being distributed to north India and that the former were not getting their due share, Congress MP D K Suresh on Thursday said the southern states will be forced to demand for a separate nation if the 'injustice' was not rectified.
The Union government is projected to share about 32 per cent of central taxes with states during the financial year 2024-25 against the 15th Finance Commission's recommendation of 41 per cent. The Revised Estimates (RE) for FY24, too, show a similar share of states in the central taxes at 32 per cent. In absolute terms, however, there has been an increase in the amount devolved to states compared to the Budget Estimates (BE) for FY24 at Rs 11 trillion.
Granting SCS to the state has been a long-pending demand of the JD-U supremo and Bihar chief minister Nitish Kumar, whose Bihar cabinet had even passed a resolution last year requesting the Centre to grant SCS to the state.
Top Congress leaders from Karnataka led by Chief Minister Siddaramaiah on Wednesday held a protest in Delhi against the Centre over alleged injustice to the southern state in devolution of taxes, sparking a fierce slugfest between the party and the Modi government.
The party's national executive meeting chaired by its president and Bihar Chief Minister Nitish Kumar flagged price rise and unemployment as "burning issues"
The Supreme Court on Monday referred to a five-judge Constitution bench a suit filed by the Kerala government raising the issue of ceiling on net borrowing.
With the Congress in power in the state and the Bharatiya Janata Party (BJP) snapping at its heels, the BRS is now fighting an existential battle.
Sukanta Majumdar, the state BJP president, said, "Amit Shah has set a target of 35 seats. We will achieve that".
Sources said the report of the law panel on simultaneous polls is not yet finalised. They said "some more things are required to be done", indicating that the law panel will be invited again by the high-level committee.
'Karnataka's finances are much healthier than the Union government's, which is indebted to nearly twice the extent of the state.'
The first Karnataka legislative assembly session, after the formation of the new government will be held on starting Monday next week in Bengaluru.
The panel's report also provides a range for fiscal deficit and debt path of both the Union and states and also recommended additional borrowing room to states based on performance in power sector reforms. Finance Commission is a constitutional body that gives suggestions on Centre-state financial relations. The report of the 15th Finance Commission was tabled in the Lok Sabha by Finance Minister Nirmala Sitharaman.
Performance-based incentives were recommended by the 13th Finance Commission, but omitted by the 14th Finance Commission
With the creation of the state of Telangana, additions were made to ToRs of the 14th Finance Commission to make recommendations for the newly created states after the reorganisation of Andhra Pradesh.
The government on Tuesday informed Rajya Sabha that GST compensation of Rs 17,176 crore is pending to states as on June 2022. Replying to supplementaries during the Question Hour, Minister of State for Finance Pankaj Chaudhary said the Centre is giving GST compensation to states for five years. He said even during Covid times when no GST was collected, the Government of India had given compensation to states after taking loans of Rs 1.1 lakh crore and 1.59 lakh crore during 2020-21 and 2021-22.
'The actions of Indian monetary authorities will depend on how quickly they want the inflation to come down to 4 per cent.'
A memorandum, signed by the chief ministers or finance ministers of Andhra Pradesh, Puducherry, Karnataka, Delhi, West Bengal, Kerala and Punjab, said the terms were disruptive and a cause for concern.
Sitharaman also said states will get 41 per cent share of taxes as per the 15th Finance Commission recommendation and the government has accepted the recommendation.
'If because of El Nino, the monsoon is affected adversely in the current year, naturally it will affect income projections and consequently Budget numbers.'
Amid the opposition UDF's sloganeering against him, Kerala Governor Arif Mohammed Khan on Friday delivered the customary address to the assembly with the policy document outlining the Left government's administrative achievements and criticising the Centre for allegedly pushing the state to financial constraints by reducing its resource allocations.
In a response to the August 3 order, the Centre, represented by Solicitor General Tushar Mehta, said till the time either the legislature or the poll panel steps in, the top court must lay down "dos and don'ts" for political parties in the 'larger national interest.'
The government has extended the term of Reserve Bank of India Governor Shaktikanta Das by another three years upto December 2024, according to an official order.
The Supreme Court Monday said no state should deny the ex-gratia compensation of Rs 50,000, as recommended by National Disaster Management Authority (NDMA), to the kin of persons who died of COVID-19 on the sole ground that death certificate does not mention it as the cause of death.
Former CAG Rajiv Mehrishi says Centre has held back a report he submitted to the President, to end what he called "a nightmare of accounts that militates against good governance".
'The finance ministry's decision to accept the deficit target of 4.5 per cent in 2025-2026 appears to have emanated from its endorsement of the Finance Commission's view that the Indian economy will continue to remain impacted by the pandemic, adversely undermining its growth potential,' notes A K Bhattacharya.
Various alleged administrative and financial irregularities worth crores have been pointed out in execution of development works in worst Naxal-hit Bastar district of Chhattisgarh by state Accountant General.
Various indicators make it amply clear that there are grave challenges facing the new government of Chief Minister Nitish Kumar, reports Indivjal Dhasmana.
The FinCom has recommended a record 10% increase in states' share.
'As far as contract farming is concerned, we already have a model Act and states will be encouraged to adopt them.'
"Shouldn't they get Indian citizenship? Shouldn't their human rights be protected?" Shah asked the audience which responded with a resounding "yes".
Speaking after interacting with gram panchayats and pani samitis/village water and sanitation committees (VWSC) on the Jal Jeevan Mission, Modi said the mission is not just about bringing water to people but it is also a decentralisation movement that is village and women-driven.
Money allocated for rural India has increased, but expenditure of panchayats is not adequate and inconsistent
The time is ripe for debate on city governments in India.
'It is just an excuse to say that the Centre has run out of money.' 'Pruning these schemes would mean hard time for the people of India.'
There will be a dramatic alteration in the role the Centre and the states will play to shape India's fiscal and economic destiny, report Nitin Sethi and Ishan Bakshi.
The Indian startup ecosystem, which defied odds during a pandemic-hit year to create record 12 unicorns, has the potential to be the engine of growth in the medium to long run, according to the Economic Survey 2020-21. The survey noted that startups are the platform for entrepreneurs who have the ability to think out of the box and innovate to conceive products that can create a niche for themselves in a dynamically changing world.
JioMeet, which has already got the endorsement of top government officials and politicians, saw a huge surge in its ranking on Google Play, based on its downloads.
The ripples from November 8 may be seen in next year's state budgets.
The finance ministry has asked all ministries and departments not to initiate any new scheme in the current financial year and said that there is a need to use resources prudently in the wake of the COVID-19 crisis. However, funds for schemes under the Pradhan Mantri Garib Kalyan Package, the Aatmanirbhar Bharat Abhiyan package and any other special package or announcement would be allocated, according to an office memorandum by the department of expenditure, which comes under the finance ministry.
The Finance Commission has substantially increased the allocation of funds to panchayats, but a large part of it is apportioned by state governments.
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