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Policy● Neutral for Indian equities
16th Finance Commission formula gives excessive weight to GSDP than need: UP finance minister
The brief
- Uttar Pradesh Finance Minister Suresh Kumar Khanna said the formula gives excessive weight to GSDP over need
- Changes to state funding allocations may affect Indian infrastructure and public-sector spending priorities
- NSE MD says no govt talks on new UPI MDR
- Finance Ministry to talk to IBA to ensure MDR is not passed on to consumers
- Ministry of Finnace to engage with banks and traders to allay Merchant Discount Rate concerns