Union Finance Minister Nirmala Sitharaman has said today that the Centre’s support to states through timely tax devolution, Finance Commission Grants, and GST compensation arrears is aimed at boosting growth in the states.
Chairing pre-budget consultations with Finance Ministers from States and Union Territories for the Union Budget 2024-25 in the national capital, Ms. Sitharaman also encouraged states to take advantage of the Centre’s ‘Scheme for Special Assistance to States for Capital Investment’. She mentioned that while most loans under this scheme are flexible, some are conditional on states implementing citizen-centric reforms and sector-specific capital projects.
The meeting included Union Minister of State for Finance Pankaj Chaudhary, the Chief Ministers of Goa, Meghalaya, Mizoram, Nagaland, and Sikkim, and the Deputy Chief Ministers of Bihar, Madhya Pradesh, Odisha, Rajasthan, and Telangana, along with other State Finance Ministers.