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At the conference President Putin said that the introduction of a new model of inter-budgetary relations was a principal issue.

He also said that a “clear-cut plan of action” was taking shape in the country, with the powers of each level of authority to be brought strictly in line with the available financial resources.

The creation of single centres for the accumulation and redistribution of funds in the constituent regions of the Federation should contribute to saving budget funds, reducing the administrative staff, consolidating a common economic space and enhancing tax discipline at all levels, the President said.

The key political and legal decisions in the sphere of inter-budgetary relations have been adopted. The main task now is to implement these decisions efficiently, properly and in due time, Vladimir Putin stressed.

The President demanded that the government, vice-premiers and regional and local authorities should place inter-budgetary transformations under their constant control.