Financial policies pursued by the Union government are pushing the State into a serious financial crisis, Minister for Finance K.N. Balagopal has said.
Replying to questions during the Question Hour in the Assembly on Wednesday, Mr. Balagopal said the main source of the State’s revenue receipts were the Central tax share and grant-in aid for Centrally-sponsored schemes. The share received by the State had seen a drop in the past few years.
The one-time Central assistance, additional Central assistance and normal financial assistance that were available during the time of the Planning Commission had been stopped.
