Bhopal: Finance Minister Nirmala Sitharaman will present the national budget on February 1st. This will determine the states’ share. Madhya Pradesh has high hopes for the general budget. It is believed that the state will receive more than ₹1.75 lakh crore from the central government.
It should be noted that states receive 41 percent of central taxes. The Madhya Pradesh government has demanded an increase to 42 percent. It has been urged that the state’s share be increased to 48 percent if cess is excluded from the tax structure.
Currently, Madhya Pradesh receives a 7.85 percent share of total central tax collections, amounting to approximately ₹1.11 lakh crore (approximately ₹111,000 crore). Madhya Pradesh has demanded a 10 percent share.
If the demand is accepted, the state will receive approximately ₹1.22 lakh crore (US$1.22 billion). It is also estimated that ₹48,661 crore (US$1.66 billion) will be received as central assistance grants. All eyes are on the recommendations of the 16th Finance Commission. The state government has requested a special package of ₹20,000 crore (US$2.2 billion) for Simhastha preparations.
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