In a significant move to strengthen international financial cooperation, Haryana Chief Secretary Anurag Rastogi hosted a high-level delegation from the Republic of Tanzania’s Joint Finance Commission (JFC) at Haryana Niwas here on Friday.
The meeting served as a platform for exchanging ideas on public finance and fiscal governance.
Rastogi chaired the high-level interaction with the commission, offering the visiting delegation an in-depth overview of India’s fiscal framework and Haryana’s financial management practices.
In the session, Rastogi explained the division of tax responsibilities between the central and state governments in India, the structure of revenue generation, and the mechanisms of debt financing, loans, and grants. He emphasized Haryana’s strong commitment to fiscal discipline and clarified that the state does not resort to off-budget borrowing.
Rastogi also elaborated on the principles of fiscal federalism in India. He noted that state governments receive a share of central tax revenues based on recommendations by the Finance Commission. He added that the 16th Finance Commission is currently functional and is expected to submit its report by October 31, 2025.
Highlighting institutional support systems, he briefed the Tanzanian delegation on the roles of NABARD in promoting rural development, the NCR Planning Board’s assistance to states in the National Capital Region, and the Reserve Bank of India’s facilitation of State Development Loans (SDLs). He further explained that loans from international institutions are usually project-specific and handled by India’s Ministry of Finance.
The interactive session also included a Q&A, where Rastogi addressed queries from the delegation on debt servicing, interest rates, and overall financial management practices, encouraging a constructive exchange of knowledge.
Ahmed Saadat, chairman of the Secretariat of the Joint Finance Commission of Tanzania, thanked the Haryana government for the detailed insights and appreciated the opportunity to learn from India’s fiscal model.
The meeting was attended by Amneet P Kumar, Commissioner and Secretary, Foreign Cooperation Department; Dr Shaleen, Managing Director, Haryana State Warehousing Corporation Limited; Pankaj Agarwal, Principal Secretary, Agriculture and Farmers’ Welfare Department; Pawan Kumar Choudhary, Advisor to Chief Minister, Foreign Cooperation Department; and senior officials from various departments.