Srinagar: Union finance minister Arun Jaitley on Wednesday asked the states to generate their own resources saying, “gone are the days when the Centre would provide money and the states would run the government. Today every state has to stand on its own.”
As the remarks have been made on the eve of presenting of the next Union budget, the country financial gurus expect a cut in grants from the Centre to states.
While speaking at a function here titled “Vision Kashmir-peace, progress and prosperity”, Mr Jaitley said the economies of the states depend on investments made by the investors, who, besides looking for profits, also create employment.
“How does the economy of a state work? Investments are required for it and investors want profit. Besides looking for profit, the investors create employment and pays taxes to the government. The state government gets money which it can use for development and make schemes for the poor people.”
Echoing former PM Manmohan Singh, Mr Jaitley said, “Our neighbouring country will have to understand that whatever means they use, they will not get any part of this country. The times have changed when the borders of the country could be changed. Boundaries cannot be now rewritten,” he told a gathering of members of civil society and intellectuals here.
