Advertisement

HindustanTimes Tue,21 Oct 2014

CM urges finance panel to increase state's share in central taxes

HT Correspondent, Hindustan Times  Chandigarh, July 23, 2013
First Published: 18:43 IST(23/7/2013) | Last Updated: 18:45 IST(23/7/2013)

Haryana chief minister Bhupinder Singh Hooda has urged the 14th finance commission to increase their share in the divisible pool of central taxes to 50% from the existing 32.5% at a meeting here on Tuesday.

Advertisement


Hooda said it would help in enabling the state to have more funds for development works.

Addressing mediapersons after meeting Dr YV Reddy, chairman of the commission, here, Hooda said the panel had appreciated Haryana's financial situation.

The Haryana government has also urged the commission to revise the weightage of four parameters of population, fiscal capacity distance, area and fiscal discipline, Hooda said.

He said it was emphasised that instead of using statistics of census of 1971, the commission should use data from the latest census.

The weightage of population should be raised from 25% to 40%; fiscal discipline should be given weightage of 25% as against the existing 17.50%. Similarly, the percentage of fiscal capacity distance should be decreased from 47.5% to 20% and that of area should be given weightage of 15% instead of 10%.

He said the suggestions were given so that the deserving states could get adequate funds, he said, adding that f these suggestions were implemented, Haryana's share of funds would increase.

Hooda said the state government had also urged the commission to give a total of Rs76,706 crore as grant-in-aid to all departments.

It was also suggested that instead of giving grant-in-aid to the states, there should be direct devolution of taxes, he said. The 13th finance commission had given a grant of Rs. 4,200 crore as grant-in-aid, he added.

Replying to a question, Hooda said with non-implementation of goods and services tax (GST), the state would bear a loss of Rs. 3,000 crore this year, which would be Rs. 5,500 crore per year after six or seven years. The tax collection this year would increase by 14% as compared to that of the last financial year, Hooda added.


Advertisement
more from India

Khaitan denied bail, to spend Diwali in jail

Businessman-cum-lawyer Gautam Khaitan is likely to spend this Diwali in jail, where he’s been lodged since his arrest by the Enforcement Directorate (ED) 28 days ago in the Rs 3,600 AgustaWestland scam, as a Delhi court Monday denied his bail application.

Advertisement
Most Popular
Advertisement
Advertisement
Copyright © 2014 HT Media Limited. All Rights Reserved