Finance minister Sitharaman underlines Centre’s support to states via timely tax devolution, GST compensation arrears
Summary - Finance Minister Nirmala Sitharaman assured states of support through timely tax devolution and GST compensation arrears at a pre-budget meeting. She encouraged states to utilize the 50-year interest-free loan scheme for reforms. States appreciated the 'Special Assistance to States for Capital Investment' scheme and provided suggestions for the Union Budget 2024-25.
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Jun 25, 2024
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Finance Minister Nirmala Sitharaman on Saturday underlined Centre's support to states through timely tax devolution and GST compensation arrears to stimulate growth. At the pre-budget meeting with state finance ministers, Sitharaman also nudged states to take advantage of the scheme under which the Centre gives 50-year interest free loan to states for undertaking specified reforms.
Most states appreciated the centre's 'Scheme for Special Assistance to States for Capital Investment' and gave some suggestions for further improvement.
The participants also gave several valuable suggestions to the Union Finance Minister for inclusion in the Union Budget for FY 2024-25, along with some State-specific requests, the statement added.
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