The finance committee chair said stock decentralization: The Associated Press hopes that the weight of “income distance” will drop to 30%.

Chief Minister N. Chandrababu Naidu and Arvind Panagariya, Chairman of the 16th Finance Committee, visited the Secretariat of Velagapudi on Wednesday. |Picture source: Special arrangement

Vijayawada

The Chief Minister of Andhra Pradesh suggested that the weight of 45% allocated to the “income distance” (the difference in income per capita) would be reduced to 30% in the formula for reducing the center to 30%, said Arvind Panagariya, Chairman of the 16th Finance Committee.

15^Th The Finance Committee has allocated the “income distance” in the formula related to the decentralization of the United States to “income distance.”

Mr Panagariya told the media on Wednesday that Mr Naidu also hopes to conduct an overall study on the weight of the population and the overall fertility rate (TFR) standards.

The delegation of the 16th Finance Committee led by Mr. Panagariya visited the Andhra Pradesh Secretariat on Wednesday.

Mr Panagariya said Andhra Pradesh favored reducing the weight of “income distance” to 30% in order to cultivate a competitive spirit among states so that they can increase their income with their own efforts rather than relying on resource centres.

Mr Naidu suggested reducing the population weight from 15% to 5%, and states should be encouraged to adopt measures for population growth, with the TFR fixed at 2.1. In addition, the Chief Minister recommends trimming the area from 15% to 5%.

In addition, Mr Panagariya said Mr Naidu emphasized the funds needed to build the capital in Amaravati, which is a “main need” and other projects ongoing by the state government.

In addition, Mr Naidu pointed out that since the fork in 2014, the country must work for itself with “reducing resources” and “less GSDP” and more people. To overcome this problem, the state government sought support from the 16th Finance Committee.

Mr Panagariya further stated that the vertical power of the Finance Committee over the country increased from 2000-2005 to 41%.

The increase in quantum from 32% in 2010-15 to 42% in 2015-20 was 10% as the financial committee is usually conservative and rarely changes the status quo. According to the 15th Finance Committee’s recommendation to allocate it to states is 41%.

Mr Panagariya added: “We are willing to accept the advice and make informed decisions after thorough evaluation of the requirements of the states.”