The Centre will release over ₹95,000 crore in one stroke to States this month, Finance Minister Nirmala Sitharaman announced on Monday, after meeting with Chief Ministers and State Finance Ministers to discuss the state of the economy and to sustain the recovery from the COVID-19 pandemic. After all, no amount of central policy fixes will suffice to revive the country’s long-somnolent investment cycle without States working in tandem. The Government set aside the spate of recent confrontations with States over revenue, GST compensation concerns, and their fears about ‘encroachment’ on their powers, to initiate an economy-focused dialogue independent of Budget consultations and GST Council machinations. (Read More)
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