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The upcoming budget— which will be the first comprehensive one from the Modi-led Government – should focus on ramping up infrastructure spend in the country to boost the sagging economy, the State Finance Ministers; told the Centre on Friday.
In their pre-budget consultations with Union Finance Minister Arun Jaitley, the State Finance Ministers also said funds should be made available at an affordable interest so that States could increase their spend on infrastructure projects.
There was extensive discussion on infrastructure during today’s pre-budget consultations, Jaitley told reporters after nearly three hour long meeting,
“Some States even went to the extent of saying that FRBM levels be raised this year in order to improve liquidity in the market”, he said.
Most states also wanted decentralisation of the centrally sponsored schemes so that they could be attuned more to their requirements.
In his address at the meeting, Tamil Nadu Chief Minister O Panneerselvam said the Centre has to continue its thrust on private investments besides focusing on public investments in order to kickstart the economic cycle.
State Finance Ministers of almost all States and some Chief Ministers of States attended the pre-budget meeting. West Bengal was not represented either by its Chief Minister or its Finance Minister.
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