Financial Daily from THE HINDU group of publications
Tuesday, Feb 03, 2004
Financial Daily from THE HINDU group of publications Tuesday, Feb 03, 2004 |
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Government
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States Industry & Economy - Economy Devolution formula must reward States, says Jayalalithaa Our Bureau
The Chairman of the Twelfth Finance Commission, Dr C. Rangarajan, meeting the officials of the Tamil Nadu Government at the Secretariat in Chennai on Monday. - - Shaju John
Chennai , Feb. 2 THE Tamil Nadu Chief Minister, Ms J. Jayalalithaa, today told the Twelfth Finance Commission that the devolution formula should reward States for performance and good governance and must "give up the practice of rewarding laggard States." "States which have far less natural resources and have done better by hard work, good governance and fiscal prudence have been punished in the past and this trend must stop," Ms Jayalalithaa has been quoted in a Government press release. She also called for a "complete and unfettered" reassessment of the roles of the States and the Centre and wanted a "reduced role of the Centre and an enhanced role of the States." This is because, "it is the States which are closer to the people, have to provide the social safety net and improve investment climate."
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