In Jharkhand, the State Government has placed several demands before the 16th Finance Commission to make Jharkhand a prosperous state. State Finance Minister Radha Krishna Kishore has demanded a total financial assistance of Rs 303527.44 crore (around three lakh crore rupees) in a high-level meeting with the Commission’s Chairman Dr Arvind Pangarhiya in Ranchi. The 16th Finance Commission team is in Jharkhand on a four day visit.
The Jharkhand government had proposed above Rs 1.5 lakh crore to the 15th Finance Commission for the development of various sectors, against which only Rs 12,398 crore was made available to the state. The State government has also demanded the GST compensation loss from the Finance Commission.
Meanwhile, Dr Pangarhiya said that the State Government has to necessarily conduct elections of local municipal bodies this year to receive mitigated funds of last and current fiscal year. The Commission has also recommended implementing the PESA law in the State as early as possible. The State Government on the contrary has demanded from the Finance Commission to increase the share of State Funds in Central Taxes to 50 percent from present 41 percent.
