Finance Minister Arun Jaitely Friday met the states on pre-budget consultations with the purpose of considering the proposals given by them at the time of framing the Budget. As per the demands, majority of states want a quick implementation of the good and services tax (GST).Here’s the complete list of all demands made by different states:
Punjab, UP demand relaxation in FRBM norms; state fiscal deficit should be relaxed from 3% to 3.5% -4% of State GDP
Punjab demands 5000 crore non-plan grant for FY16
Rajasthan, MP say states should be allowed flexibility in fixing fiscal deficit targets according to economic indicators
Rajasthan, Tamil Nadu say distinction between Plan, Non-Plan spend must end
MP demands higher share in tax devolution from Centre under 14th Fin Commission recommendations
Gujarat suggests 1% Additional Tax under GST should be continued beyond 2 years for manufacturing states
Tamil Nadu says more discussion on Revenue Neutral Rate, Threshold limits, Compensation required under GST
TN says Centre yet to refund approx Rs 7000 crore of CST arrears up to March 2012
Kerala asks for higher allocation towards social sector spend in Budget FY16
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