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Government Releases Revenue Deficit Grant For 17 States

Finance Ministry has released the monthly instalment of Rs 9,871 crore to 17 states under the post devolution revenue deficit grant

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New rule: Additional borrowing space only if states agree to take over discoms' future losses

As per the guidelines issued by the finance ministry, states cannot renege on power purchase contracts, cannot have unpaid subsidies to discoms, will have to reduce operational and financial losses, and will have to reduce industrial tariffs.

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Government Gives Revenue Deficit Grant To 17 States For 2021-22


Government Gives Revenue Deficit Grant To 17 States For 2021-22
Government Gives Revenue Deficit Grant To 17 States For 2021-22
A total of Rs 1,18,452 crore in terms of grant has been suggested by the 15th Finance Commission for 2021-22, to 17 states.
Centre has released the revenue deficit grant to states for 2021-22
The Centre has released the third monthly instalment of post devolution revenue deficit grant of Rs 9,871 crore to 17 states. The grant is for the current fiscal, i.e. 2021-22.
The Department of Expenditure of the Ministry of Finance disburses this amount to states, and with the release of the third instalment, Rs 29,613 crore in total have been released in the first three months of 2021-22.

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DMK's views on devolution of funds driven by equity, efficiency, transparency: TN Finance Minister


June 01, 2021
Tamil Nadu Finance Minister PTR Palanivel Thiaga Rajan   -  The Hindu×
Palanivel Thiaga Rajan says whether in opposition or in power, DMK’s stance is the same because ‘óur constant principles drive our views’
DMK’s views on devolution of funds is guided by the principles of equity, efficiency and transparency. “It stays the same in Opposition or as the Government, because our constant principles drive our views,’ said Tamil Nadu Finance Minister PTR Palanivel Thiaga Rajan .
In a tweet, he also shared excerpts from a statement made on behalf of the party to 15th Finance Commission in 2018.
“For now, I leave you with some excerpts from my statement on behalf of the DMK to the 15th Finance Commission in 2018. Our views stay the same in Opposition or as the Government, because our constant principles drive our views,” he said in the tweet.

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Amend Article 21 of Constitution to make health a fundamental right: Villupuram MP | India News

India News: VILLUPURAM: Villupuram MP D Ravikumar has urged the Union law and justice minister Ravishankar Prasad and Union health minister Harsh Vardhan to intro.

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Government releases Rs 1,605 crore to North Eastern States under Jal Jeevan Mission

The government in a statement stated Union Government led by Prime Minister Narendra Modi has been giving top priority for the development of North-Eastern region of the country. The commitment of the Prime Minister to realize the full potential of the North-East and to accelerate its development is well known. During financial year 2021-22, Rs. 9,262 crore has been allocated as Central grant for NE States under Jal Jeevan Mission.

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The end of the road for India's GST?

The fundamental problem is the erosion of ‘trust’ and ‘trustworthiness’ between the States and the Centre

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View: Swachh Bharat Mission has lessons to curtail rural spread of coronavirus

In 2014, rural India pledged to eradicate open defecation by October 2019, a pledge it redeemed in earnest. Crores utilised 11 crore toilets constructed in record time. The Swachh Bharat Mission (SBM) became the largest behavioural change programme in the world, riding on community engagement and ground-level communication. Resistance to Covid-19 in the hinterland needs a recall of the SBM experience.

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Rs 23,000 crore given to state disaster fund, 50% of it for Covid fight | India News

India News: The Centre has allocated over Rs 23,000 crore towards State Disaster Response Fund (SDRF) for the second successive year in 2021-22, half of which ha

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Centre expedites release of Rs 8,924 crore of rural local body grants to 25 states


Centre expedites release of Rs 8,924 crore of rural local body grants to 25 states
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Centre expedites release of Rs 8,924 crore of rural local body grants to 25 statesBy
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This marked the first instalment of untied grants for the ongoing fiscal, released to the states for the village, block and district level of panchayati raj institutions, said a finance ministry statement on Sunday.
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Uttar Pradesh received the largest amount at Rs 1,441 crore followed by Rs 861 crore transferred to Maharashtra and Rs 742 crore to Bihar, official data showed.
The Centre has expedited the release of funds amounting to Rs 8,924 crore to 25 states for providing grants to rural local bodies, on Saturday.

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India's tax revenue below potential by about four percent of GDP, says NK Singh


India's tax revenue below potential by about four percent of GDP, says NK Singh
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Last Updated: Apr 23, 2021, 08:01 PM IST
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Speaking at the CSEP-IMF event on "Securing Sustainable Finances and Medium-term Fiscal Frameworks: International Experience and Relevance for India", Singh said there is a need to redo direct and indirect taxes and bring about deep reforms in the revenue system.
15th Finance Commission Chairman NK Singh on Friday said India's tax revenue potential is lower by 4 per cent of GDP and the country needs to bring in deep reforms in the revenue management system. He also said an incentive mechanism for states needs to be worked out so that their policies are aligned to those of the central government.

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The third tier of government can bolster urban health


The third tier of government can bolster urban health
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Nina Badgaiyan,
Anurag Kumar
A greater role for local bodies can boost urban healthcare but administrative challenges need to be addressed
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The covid pandemic put a spotlight on an often-neglected component of India’s health system: urban public health and healthcare. The crowding in our cities makes them natural targets, but our urban health problem runs deeper.
In the past, governments have focused on rural health, and rightly so. Expenditures under the National Health Mission (NHM), India’s primary public health and healthcare delivery vehicle, make this apparent. Union government expenditure on urban areas was ₹850 crore in 2019-20, compared to nearly ₹30,000 crore for rural. However, with rapid urban population growth, a lack of government primary and preventive health infrastructure in urban India poses a challenge. Against a norm-based target of 9,072 urban primary health centres (UPHCs), only 5,190 are operational. Further, most states do not have urban sub-centres (SCs), people’s first point of access for healthcare services. There are only 3,000 urban SCs compared to over 150,000 in rural areas.

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States look to meet 'Har Ghar Jal' target ahead of national goal | India News

India News: NEW DELHI: As the Centre’s flagship programme to provide tap water connections to all rural households in the country has entered its third year of im.

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View: 15th FC support for urban local governments must deliver better, by giving them more autonomy


View: 15th FC support for urban local governments must deliver better, by giving them more autonomy
Synopsis
Of Rs 4,36,361 crore grants recommended for local governments (LBs), Rs 8,000 crore are performance based incubation grants for 8 new cities and Rs 450 crore are for the establishment of municipal shared services centres. In view of the current pandemic, FC has provided Rs 70,051 crore to LBs to strengthen their primary healthcare system.
Agencies
The 15th FC has taken several progressive first steps to support the nature of urbanisation taking place in the country.
The 15th Finance Commission (FC) Report for 2021-26 recognises urbanisation as an important engine of national economic growth and poverty reduction and emphasises the need for meeting the future challenges of spatial urban expansion into the metropolitan peripheries and in planned new cities. But it is also riddled with serious shortcomings that need to be highlighted.

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The utter economic necessity of reforming India's power sector


The utter economic necessity of reforming India’s power sector
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A new window has opened up for power sector reform with the final report of the 15th Finance Commission (XVFC) for the five years 2021-22 to 2025-26. This recommendation is among those accepted in the Action Taken Report (ATR), tabled by the government in Parliament along with the report. State government borrowing is to be capped at 4% of state domestic product (SDP) for the new fiscal year 2021-22, to be brought down to 3% in two years. In each of the first four years, a borrowing additionality of 0.5% of SDP is on offer, conditional on power-sector reform.

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States may face Rs 3 lakh crore GST compensation shortfall in FY22: Report


States may face Rs 3 lakh crore GST compensation shortfall in FY22: Report
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Last Updated: Mar 15, 2021, 07:42 PM IST
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In FY21, the states were facing a shortfall of Rs 1.1 lakh crore in GST compensation from the Centre but over 90 per cent of that amount has been cleared now.
Agencies
Out of that amount, the shortfall from cess collections will be at Rs 1.6-2 lakh crore, according to an Icra report released on Monday.
States may face a GST compensation shortfall of Rs 3 lakh crore in the next financial year, a situation that will force them to borrow more from the markets, says a report. The states may face a shortfall of Rs 2.7-3 lakh crore as Goods and Services Tax (GST) compensation from the Centre next fiscal. Out of that amount, the shortfall from cess collections will be at Rs 1.6-2 lakh crore, according to an Icra report released on Monday.

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