Finance Minister Nirmala Sitharaman addressed the media in a press conference following her interaction with ♎chief ministers, finance ministers of states and lieutenant governors of union territories on Monday.
Important updates from the press briefing:
1. The context of the meeting was seeking the state's perspective on how to reach double-digit🍨 growth post-pandemic.
2. On 22nd Novem♏ber, instead of nor💝mal devolution payment, a total of Rs 95,082 crore would be collectively given to states for post-pandemic development
3. All states appreciated spending on infrastructure. Some st๊ates asked for 50yrs interest-free loan so that they can take up projects in infrastructure
4. Instead of devolving one instalment, we are giving two instalments in November: ꧅Finance Secretary
5. Not one state spoke about cr🐭yptocurrency today: FM Nirmala Sitharaman
6. Most s♉tates have a positive cash balance as of October 30 totalli꧂ng Rs 2.66 lakh crore. Four states have negative cash balance: Finance Secretary
7. The loss due to𒆙 the reduction in excise duty of petrol and diesel is worn by the central govt
8. GST on petroleum product♓s cannot be implemented until a rate is decided uponꦇ by the GST council: FM Nirmala Sitharaman
9. 11 States have achieved the CAPEX target set by Finance Ministry for Q1. They have bღeen permitted additional borrowing.
10. States are mo💧ving firmly on capital expenditure. There has been a suggestion to strengthen the Dispute Resolution Mechanism.
11. CAPEX of 20 states ha🅠ve been 23 Per Cent and 79 Per Cent higher as compared to 2019 and 2020 respectively B/W Apr-Sept this year: Financﷺe Secretary
12. Rs 47541 crore would be given as devolutio☂n payment plus an extra Rs 47541 crore, therefore, the total amount would be Rs 95082 Crore
