Conclave to collectively fight for financial rights; finance ministers of Kerala, Karnataka, Tamil Nadu, Punjab and Telangana to meet on 12th

THIRUVANANTHAPURAM: A conclave of state finance ministers will be held in Thiruvananthapuram on 12th to collectively fight for the financial rights of the states. Apart from Kerala, Karnataka, Tamil Nadu, Punjab and Telangana Finance Ministers, Finance Secretaries and economic experts of the country will participate. Finance Minister KN Balagopal said in a press conference that the purpose of the conclave is to collectively fight to determine the norms of the 16th Finance Commission.

The conclave of finance ministers comes after Kerala staged a dharna in Delhi and filed a case in the Supreme Court for economic federalism.

The 16th Finance Commission recommendations will be implemented from 2026 onwards. The Finance Commission will recommend norms for central-state financial relations, including sharing of tax shares with states and determining credit limits. The share given to the states by the Centre after taking 63% of the tax share is not fair. It is this approach that puts states including Kerala in a huge financial crisis. It is because Kerala's lone struggles against this have not worked that similar states are joining together. It is expected that the pressure will be stronger if financial experts are added to this.

The conclave will be held at Mascot Hotel on the 12th. Chief Minister Pinarayi Vijayan will inaugurate it at 10 am. Finance Minister KN Balagopal will preside. Telangana Deputy Chief Minister and Finance Minister Bhatti Vikramarka Mallu, Karnataka Revenue Minister Krishna Byre Gowda, Punjab Finance Minister Harpal Singh Cheema, Tamil Nadu Finance Minister Thangam Thennarasu and Leader of the Opposition VD Satheesan will be present. Experts will participate in the discussion in the afternoon.