The state governments today urged Finance Minister Arun Jaitley to increase the limits of Fiscal Responsibility and Budget Management to infuse more liquidity into the market for infrastructure projects. The demand was made by the state finance ministers during a pre- Budget meeting with Finance Minister Arun Jaitley New Delhi today. Speaking to the reporters after the meeting, Mr Jaitley said since there is a less liquidity, the government will provide funds to the states at a affordable rate so that infrastructure projects will start at large scale. He said that the states are supporting the Centre for the implementation of Good and Services Tax, GST. He, however, said, that the states are anxious for the expeditious payment of Central Sale Tax, CST compensation to them. Mr Jaitley said, the states also wanted to decentralize the Central Sponsored Scheme so that they could tuned more to the state requirements. On other states specific issues, Mr Jaitley assured them that all the suggestions made by them will be taken into consideration while formulating the policy in relation to the Budget.
News On AIR | December 26, 2014 7:39 PM
Pre-Budget talks: State urges Centre to raise spending on infrastructure projects