November 9, 2015 7:59 PM

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Centre to continue with 90:10 funding pattern to NE states

The Union Minster of State for Finance Jayant Sinha said that the Central Government has "largely resolved" to continue with the 90 to 10 ratio funding pattern for 17 Core Centrally Sponsored Schemes (CSS) and would follow the 80 to 20 ratio pattern for non-core CSS schemes for the North-Eastern States. <br/><br/>The funding pattern would be retained based on the recommendations of the Shivraj Singh Committee formed to study the funding pattern for North-eastern States.<br/><br/>After a review meeting of Pradhan Mantri Jan Dhan Yojna, CSS and other central programmes, with State Government officials in Shillong today, Mr. Sinha said for the development of the northeast, finance is not a constraint. <br/><br/>He said that this fiscal there is Rs. 2369 crore with the Ministry of Development of North Eastern Region. Moreover, there are other funding agencies like World Bank etc. So finance is not any issue for the right projects.<br/><br/>On implementation of the Goods and Service Taxes, he hoped that the Bill would get the approval of all parties in the Parliament during the winter session, so that it could be implemented in the country by 2016. <br/><br/>"The North Eastern States as destination consumption States would be the biggest beneficiary of the GST as most are not manufacturing States", he said adding, the tax revenue would also go up as many new categories would fall under the tax net.

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