Naidu said that the Finance Commission has not considered challenges of an essentially agrarian State.
Finance Commission award gives meaning to ‘cooperative federalism’.
M Govinda Rao, NIPFP and member, 14th Finance Commission believes that the government needs to cut down wasteful expenditure.
With Punjab now asking for Rs 10,000 crore from the commission as grants, it does not want to lose the balance of Rs 1,000 crore at any cost.
To meet the huge gap, the government has projected making fresh borrowings of about Rs 15,000 crore in the current fiscal.
The 690 MW Salal and 390 MW Dul Hasti have been constructed over river Chenab by NHPC in Reasi and Kishtwar districts respectively.
The mandate of the panel has also been expanded to chart out a financial roadmap for the two states.
Apart from seeking Rs 5,441 crore for major road concretisation projects, the civic body has also sought Rs 9,000 crore for laying ducts across the city to have trench-free roads in order to avoid potholes.
The state finance department has already unveiled austerity measures by asking departments to avoid unwanted travel and office expenses.
The CM also requested for specific grant of Rs 1,55,000 crore to boost various development programmes.
The team,led by the Commission Chairman Dr Y V Reddy,was on two-day tour to Gujarat to assess the situation for next year allocation.
On Chief Minister Parkash Singh Badals personal request,a high-level delegation of the 14th Finance Commission led by chairman Y V Reddy visited flood-affected areas of Muktsar district on Sunday
Facing innumerable challenges to sustain itself,Punjabs industry will seek fiscal incentives on the lines of hilly areas,funds for development expenditure and faster GST implementation from 14th Finance Commission which will hold meeting with sector representatives on Friday
Fifteen years of terrorism in Punjab and the fact that it is a border state are the two specific items to be placed on the agenda by the government for the consideration of the 14th Finance Commission that begins its two-day visit to the state from September 6