Budget 2023-24: In the series of the pre-budget meeting, Finance Minister Nirmala Sitharaman held a meeting with the Finance Ministers of the States and Union Territories on Friday. In which a list of demands has been submitted by the states in the budget. Expressing concern over rising inflation in front of the Union Finance Minister, the finance ministers of the states have demanded relief to the common people. The states have demanded the finance minister to increase the share of states in central taxes.
From November 21, 2022, the Finance Minister is continuously holding pre-budget meetings. A meeting has already been held with experts from industry, agriculture, service trade and financial sector. The last round of meeting with trade unions and economists will be held on 28 November.
Union Finance Minister Smt. @nsitharaman the chairs #PreBudget2023 meeting with the Finance Ministers of all States and Union Territories (with legislature) for taking their inputs and suggestions for the upcoming #UnionBudget 2023-24, in New Delhi, today. (1/2) pic.twitter.com/OrR355kGkF
— Ministry of Finance (@FinMinIndia) November 25, 2022
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Earlier, from April to June 2022, the central government has released Rs 17,000 crore as GST compensation to the states. Rs 1,15,652 crore has been released for 2022-23. According to the Finance Ministry, till October 2022, only Rs 72,147 crore has been collected through cess, while Rs 43,515 crore has been released by the central government from its own side. With this, the Center has released the full amount to be given to the states under Cess.
According to the press release issued by the Ministry of Finance, the finance ministers of the participating states have thanked the finance minister for increasing the borrowing limit of the states and releasing two installments of advance devolution for capital expenditure. The Finance Minister has assured to consider the demands of the states.
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