Tax devolution from the central pool to the states is based on recommendations of the Finance Commission without any exception, Union finance minister Nirmala Sitharaman assured members of Rajya Sabha on Thursday.
There has a significant jump in states' share in central taxes and grants during 10 years of the Narendra Modi-led NDA government as compared to the previous 10-year of the UPA regime, she said, responding to criticisms in the House and outside, from the southern states of Kerala and Tamil Nadu, which allege that the Union government is withholding tax revenues due to them.
"There is no way... that any violation has happened. I followed it (the Finance Commission's recommendation) to the last word," she said in the House while replying to the debate on the interim budget.
In the budget estimate (BE) of 2024-25, the total resources being transferred to states, including devolution of the states' share from the taxable pool, grants and loans, releases under the centrally-sponsored schemes, are expected to be ₹22,22,264 crore, an increase of ₹4,13,848 crore over the actuals of 2022-23. "This is 47% of the 2024-25 budget," she added.
This story is from the February 09, 2024 edition of Hindustan Times.
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This story is from the February 09, 2024 edition of Hindustan Times.
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