The Indian economy has for the last one and half years been fighting the most deadly global epidemic that the world has ever witnessed in the form of the Coronavirus Pandemic. With economic and financial infrastructures at a dismal point, the health and education sector in tatters, the gross domestic income growth in the economy has subjugated to an even lower level with a pronounced lack of financial and economic resources and problems in the integration of technological know-how. Thus cooperation between the Central and State Governments is something that the economy has relied upon and has put maximum effort towards generating revenue through the functioning of viable economic resources.
Through the discharge of fund machinery of the Central Government, the State Governments of Andhra Pradesh, Goa, Nagaland, and Manipur have asked for an amount of 16, 647 crores to be distributed to the respective state governments. Andhra Pradesh has applied for an amount of 700 crores for economic development and reconstruction of the financial sector in the economy. Goa has asked for 500 crores to celebrate the jubilee anniversary of its freedom year from Portuguese colonialism. Nagaland has asked for the assistance of 14,000 crores from the centre to suffice with the regulation of investment activities in the country. Lastly, Manipur has also asked for a sanction of 700 crores. The information about the function of the fund sanction was informed by Anurag Thakur, the assistant and deputy Finance Minister of the country to Nirmala Sitharaman. Through the press release, it was confirmed that these four states have filed an appeal to the Central Government to release the pending and subsequent amount of necessary funds that would be utilized to refinance and reconstruct the infrastructural bases in the country.
Conclusion
The government of India has taken the initiative to restore the institutions and bring about organizational development.
