Budget 2023: States demand from Finance Minister, interest free loan for financial help

In the budget, the states have demanded more financial assistance in central schemes and interest free loans for capital expenditure. Finance ministers of all states attended the pre-budget meeting with Finance Minister Nirmala Sitharaman today. States like Chhattisgarh and Rajasthan demanded the Center to refund the old pension scheme money. The same Bihar has talked about making cess and surcharge a part of the divisible pool.

Talking in detail on this news, CNBC-Awaaz correspondent Alok Priyadarshi said that during this meeting the states say that due to the policies of the Center their fiscal autonomy has been affected. He alleges that the burden has increased on the states in implementing the central schemes. Due to this, the states have demanded from the central government that more financial assistance should be given to the states to implement the scheme.

During the pre-budget meeting, the states have demanded from the central government that interest-free loans should be arranged to the states for capital expenditure. Cess and surcharge should be made part of the divisional pool or should be included in the duty. Similarly, the states which have announced the old pension scheme have asked the Center to return the money. Apart from this, the states have also demanded that their outstanding GST compensation should be released soon and also the GST rates should be reviewed.

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