- Several States, including some governed by the BJP, on Friday urged the Centre to rein in its reliance on raising revenues through cesses and surcharges which reduce their share in the divisible pool of taxes.
- They also sought greater fiscal support to help revive the economy and reiterated demands for extending the Goods and Services Tax (GST) compensation period.
- These issues about the federal fiscal framework were flagged, along with States’ local project wish-lists, at a consultation meeting for the Union Budget of 2023-24, steered by Finance Minister Nirmala Sitharaman here and attended by Chief Ministers, Deputy CMs as well as Finance Ministers of States.
SOURCE: THE HINDU, THE ECONOMIC TIMES, PIB