Compensation to state Governments

Finance Minister is excepted to announce compensation , compensatin to State Government ,

Taxation of commodities and services are expected to be postponed, now an information reporting that, the Central Government finalized to announce it, in coming budget. Relating to it, the Central Finance Minister P.Chithambaram conducted a discussion with state Finance Minister at Delhi yesterday. As no conclusion is arrived, Mr. Chithamabaram insisted that the state Ministers should try to attain collective opinion within 22nd Feb said surroundings of Finance Ministry.

The Central Government decreased the sales tax, to 4% during financial year 2012-11. To rectify this loss Rs 34,000 crore compensation to state Governments, will be announced by Finance Minister within one or two days, informed by higher officials of Finance Department. Above all the Central Government only in the next financial year, but the announcement will took place in coming budget session, surroundings of Finance Ministry said today.

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