Finance Minister Arun Jaitley declared that his government has approved the recommendations made by the 14th Finance Commission to increase the states share from present 32 percent to 42 per cent in the union government’s tax income. He said it was never seen before such a massive share increase to the states from the union government’s income.

 

He said the Finance Commission has identified 11 deficit-budget-states in the country including the Andhra Pradesh state. He suggested that all the states should develop their own revenue sources and should become self-sufficient in the coming years. He reiterates that his government will extend its full support to the AP State.

 

He said the Finance Commission has recommends the Centre to provide Rs.22, 113 crores during next five years period and the Centre has agreed for it. Rs. 6609 crores will be given to the AP State during 2015-16 financial years, Rs.4930 crores, 3644 crores, 2499 crores will be given in the subsequent financial years, declared the Finance Minister Arun Jaitley today. So, the AP state will get Rs. 6609 crores for the current financial year.