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nirmala sitharaman meeting with states cm and fm: Finance Minister Nirmala chairs a meeting of chief ministers/finance ministers of states- Sitharaman held a meeting with chief ministers and finance ministers of all states on Monday

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nirmala sitharaman meeting with states cm and fm: Finance Minister Nirmala chairs a meeting of chief ministers/finance ministers of states- Sitharaman held a meeting with chief ministers and finance ministers of all states on Monday

Highlights

  • There was a meeting regarding the recovery of the economy after the Kovid 19 epidemic.
  • States will have additional amount for capital expenditure due to advance installment
  • Any kind of amount adjustment in March

New Delhi
The central government will release Rs 95,082 crore as tax share to states this month to increase their capital expenditure. An advance installment will also be included in this. This was said by the Union Finance Minister Nirmala Sitharaman. Sitharaman held a meeting with the Chief Ministers and Finance Ministers of all the states on Monday. This meeting was regarding the recovery of the economy after the Kovid 19 epidemic. He said that the states had requested that advance payment of their share in the collected tax revenue would help them in capital expenditure.

Sitharaman said in the press conference after the meeting, “I have asked the Finance Secretary that instead of giving the normal amount of Rs 47,541 crore to the states’ share, they should also be given one month advance installment on November 22.” In this way, Rs 95,082 crore will be released to the states on that day.

What are the benefits to the states by getting advance installment
He said that by getting one month’s advance installment, the states will have additional funds for capital expenditure, which they can use to build the infrastructure base. Finance Secretary TV Somanathan said that at present 41 per cent of the total tax collected is paid to the states in 14 installments and the states also have an estimate about their cash inflows. He said it would be an advance payment and any amount adjustment would be done in March.

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how many people attended the meeting
In this meeting with Sitharaman, 15 Chief Ministers, the Lieutenant Governor of Jammu and Kashmir and the Deputy Chief Ministers of three states attended. Other states were represented by their finance ministers. Sitaraman said, “The context of this meeting is the strengthening of economic growth after the second wave of Kovid-19. However, this is also the time to look at ways to sustain growth and take it to double digits. Went.

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