IMPHAL: Manipur Chief Minister N Biren Singh participated in vital discussions with the 16th Finance Commission to utilize central funds for the state’s progress.
In order to bring an economic transformation in the state, discussions were held on the effective utilization of the funds allocated to the state through Centrally Sponsored Schemes, proposals for grants-in-aid towards the development of various sectors, and execution of specific projects, etc.
Led by Chairman Dr. Arvind Panagariya, the Commission strives to bring economic change to Manipur through strategic fund allocation.
During a press conference in Kohima, Nagaland, earlier this month, the Chairman of the 16th Finance Commission, Arvind Panagariya, highlighted the importance of states elevating their revenue generation to achieve greater fiscal self-reliance.
Speaking at the conference, Panagariya said, “The Commission generally does encourage states to raise as much of their revenue as possible."
Ultimately, this revenue is a function of the state's Gross State Domestic Product (GSDP). Higher revenue implies a larger GSDP, which in turn leads to higher capital incomes.
On the Commission’s recommendation to bring resource-starved Nagaland, which primarily depends on central funding, at par with the rest of the states, Panagariya said the special category status was related to the grants that were given by the erstwhile Planning Commission.
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