Financial Planning: To strengthen the economic condition of any state, good tax collection is necessary, but sometimes even after earning good income from tax, the economic condition of the states does not become that strong and the reason for this is excessive spending. Merely increasing the income does not strengthen the economic situation, unless the continuous expenses are kept under control. In view of this, the 16th Finance Commission has given an important suggestion to strengthen the economic condition of the states.

In fact, the Commission believes that in some states the income is not increasing as fast as the expenditure is increasing. Therefore, the states will have to try to increase their earnings and along with increasing the earnings, they will also have to reduce their non-essential expenses, so that the economic condition of the state remains better.

Haryana is number 1 in the country in tax collection, Bihar is the worst, report reveals the self-reliance of the states.

Do not take loan beyond your budget

Apart from this, the Commission says that the state should not take more loan than the budget, doing so should be avoided. Even if for some reason a loan has to be taken, all the information related to it will be kept before the people in the budget every year.

Will revenue deficit grant be given or not?

According to the report, this time it has not been recommended to give Revenue Deficit Grant to any state. Not only this, but no separate proposal has been made to provide any special financial assistance to any state or region. Along with this, the Commission has advised that states should spend only according to their earnings. This is why the Commission said that the fiscal deficit of any state should be kept within 3 percent of its total economic capacity and should not be more than this.

People of Sikkim are the richest, Bihar is still the poorest, which states won in per capita income?

Commission gave advice to the states

• The Commission says that now states should increase their tax earnings.
• Also spend only as per need. If there is no need then control unnecessary expenses.
• This will make the state economically stronger.

What effect will this have on people?

This will also affect people like…

• If the state becomes economically strong then better facilities will reach the people.
• With the strengthening of the economic situation, more money can be spent on facilities like roads, schools and hospitals than before.
• The state will not have to take any kind of loan.
• A good amount of money will be available for important development schemes.
• In future, this money can help in government works.

US President Donald Trump has once again given a big statement regarding his tariff policy. Trump has said that soon every citizen of America (except the rich) will be paid $2,000. This amount will be given from the tariff revenue collected by his administration.

“People who are against tariffs are fools!” Trump wrote on his social media platform Truth Social. He claimed that during his tenure, America became the richest and most respected country in the world, where inflation was very low and the stock market had touched record highs.

Trump made a big claim

Trump also said that the US is earning trillions of dollars from tariffs, which will not only be used to reduce the $37 trillion national debt, but will also be distributed as dividends among ordinary citizens. According to him, every American (except high-income group) will soon get an amount of at least $2,000.

What did Trump write in his post?

He also mentioned the record-breaking achievements of the American economy in his post. Trump wrote, “401K (retirement savings) are at an all-time high. New plants and factories are being built across the country.” However, Trump has not given any clear information regarding the process or timeline for implementing this plan.

US Finance Secretary had said this

US Treasury Secretary Scott Bessant told CNBC in August that the administration is focused on reducing the $38.12 trillion national debt, for which tariff revenues are being used.

This statement comes at a time when the US Supreme Court is investigating whether Trump had misused his executive powers and imposed overly broad tariffs. Trump described this court investigation as completely baseless and said that tariffs are his most powerful economic weapon. Trump said, “We are earning trillions of dollars. This policy is making America strong, prosperous and self-reliant.”

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