Finance Minister Arun Jaitley today advised state finance secretaries to stick to fiscal discipline, spend on infrastructure and development activities and to use Aadhaar for transferring benefits to people. Speaking at the second conference of state finance secretaries in New Delhi, Mr Jaitley said, the tendency to spend on non-developmental activities may appear to be attractive in the short term but does not reap results in the long run. He said, states' share in Union taxes has substantially gone up after implementation of the 14th Finance Commission report that prescribed a record 10 per cent increase in their share in the Union taxes to 42 per cent. Mr Jaitley said, national focus is on larger expenditure on social sector, infrastructure creation and rural areas, which was lacking in the past.
News On AIR | April 11, 2016 2:43 PM
Jaitley advises States to stick to fiscal discipline, spend on infrastructure