The Fifteenth Finance Commission, in its interim report tabled in Parliament on Saturday, has recommended maintaining States’ share in the divisible pool of tax collections at virtually the same level of 42% set by its predecessor, for 2020-21.
To factor in the changed status of the erstwhile State of Jammu and Kashmir, the rate at which funds may be shared with the States has been reset to 41%. This is after ‘adjusting one percentage point for the needs, including special ones of the two new union territories of J&K and Ladakh,’ the Commission noted in its report.
An official said that the actual pool of funds available to States will be equivalent to what they were receiving from the 42% share granted by the Fourteenth Finance Commission, as the number of States are now 28 instead of 29. The one percentage point reduction is what would have been earmarked for J&K as a State.
This story is from the February 02, 2020 edition of The Hindu.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the February 02, 2020 edition of The Hindu.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
‘Olympics Cancellation Likely If Vaccine Not Found In Time'
Further delays impossible, says Tokyo Games organising panel chief Mori
It's Wholesale Only At Koyambedu Market
Retail outlets to remain shut to bring down crowding.
Ministry Does U-Turn On Plasma Therapy
Treatment not proven: Health official
Trump's Bleach Statements Echo Claims By Pseudo-Scientists
‘Miracle cure’ quacks have long promoted industrial bleach to treat autism, malaria and many other medical conditions
U.S. May Seek Damages From China
President says many options on the table to hold Beijing accountable, draws an angry response
Koyambedu Market May Be Shifted Out
Decision likely at today's meeting of stakeholders; aim is to enforce physical distancing
Massive Spike Of 522 Cases In Maharashtra
On Monday, cumulative tally surged to 8,590 positive cases with 27 more deaths
The Script Of Disruption And A New Order
Across the globe, the geopolitical and geo-economic fallout of the COVID-19 pandemic could be serious
A Policy Road Map To Tackle Covid-19
The interest of each and the interests of all now coincide, not only within nations but for all humanity
ICMR Says No Payment Made For Chinese Test Kits Supplies
Alleged profiteering by distributors supplying the kits
