States Warn Centre Ahead Of Union Budget

Ahead of the Union Budget, states and Union Territories have flagged mounting revenue stress and shrinking fiscal space in a key pre-Budget meeting with Finance Minister Nirmala Sitharaman. Concerns ranged from revenue losses due to GST rate cuts to higher funding burdens under new welfare schemes replacing MGNREGA. States also sought fairer Centre–state funding, easier access to long-term loans, and a share in select excise and cess collections. Business Today TVs special report