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NEW DELHI, June 4 � Union Finance Ministry has convened a meeting of the Chief Ministers and State Finance Ministers of the Northe astern States to discuss the financial situation of the States.
The meeting to be chaired by Union Finance Minister Pranab Mukherjee is slated to deliberate on the heavy burden imposed on the finances of the NE States following implementation of the Sixth Pay Commission.
The impact on the States has magnified manifold because of the reduction of State�s share in Central taxes on account of economic slowdown.
According to sources, the Twelfth Finance Commission had noted that State�s expenditure on salary and pensions had gone up from 35 per cent in 1996-1997 to 42 per cent in 1999-2000.
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