New Delhi: Union Finance Minister Nirmala Sitharaman on Saturday indicated that the Center may consider restoring state status to Jammu and Kashmir. He indicated this while discussing the distribution of funds by the Center to the states as per the recommendations of the 14th Finance Commission. Finance Minister Sitharaman was delivering a lecture on "Co-operative Federalism: The Path Towards Self-Reliant India" organized by Bharatiya Vichar Kendram in memory of Sangh ideologue P Parameswaran in Thiruvananthapuram, Kerala.
Speaking on Centre-State relations in Thiruvananthapuram, Sitharaman noted that PM Narendra Modi had accepted without hesitation the recommendation of the 14th Finance Commission in 2014-15 that 42 per cent of all taxes should be given to the states. Whereas earlier only 32 per cent was given to the states.
Nirmala Sitharaman said, "Finance Commission said that now you increase it to 42 per cent which means less amount will be in the hands of the Center. PM Modi completely accepted the Finance Commission without even thinking about it for a moment. And that is why today the states get 42 per cent of the tax. Whereas Jammu and Kashmir get 41 per cent as it is no longer a state. Although it will probably become a state sometime soon." Explain that the BJP-led central government abrogated Article 370 in August 2019, suspending the special status given to Jammu and Kashmir. This move divided the state into union territories.
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