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Blockchain for Crowdsourced Investment Projects ✌️【Flexible Work】✌️₹500 is all it takes to earn big! Join now for high-yield monthly investments. “These reforms can be reinforced with “next generation” fiscal rules; the use of data analytics, including machine learning andartificial intelligence; improved data transparency and disclosure practices; and strengthening the institution of State Finance Commissions to deliver public services more effectively and scale up social and physical infrastructure,” it said.The sharp rise in spending on subsidies, driven by farm loan waivers, free or subsidised services like electricity, transport, gas cylinders, and cash transfers to farmers, youth and women, are key areas of incipient stress, the report noted.“States need to contain and rationalise their subsidy outgoes, so that such spending does not crowd out more productive expenditure,” it said.With electricity distribution companies continuing to remain a drag on state finances, it said total accumulated losses were at Rs 6.5 lakh crore by 2022-23 (2.4% of GDP).
Initiatives aimed at enhancing productivity, reducing transmission and distribution losses, rationalising tariffs in accordance with the underlying cost of power supply, unbundling the electricity supplyindustry, and privatising generation and distribution remain critical and would significantly improve the quality of state finances.It also flagged that too many central government schemes reduce flexibility of state government spending and dilute the spirit of cooperative fiscal federalism.
It suggested that rationalisation of centrally sponsored schemes can free up budgetary space to meet state-specific expenditure needs and reduce the fiscal burden of both the Union and the state governments.It said the state governments have made progress in fiscal consolidation, while there is scope for further improvement.Arunachal Pradesh CM Pema Khandu addressed concerns and misinformation about the Siang Upper Multipurpose Project, stressing its national significance in protecting the Siang River and its communities from Chinese hydropower developments.
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