This includes health grants of Rs 70,051 crore. Of this, Rs 43,928 crore is recommended for rural local bodies and Rs 26,123 crore for urban bodies.
Excluding the union territories of Ladakh and J&K, the tax devolution share suggested by the Finance Commission is 41 per cent of the total divisible pool.
The Cabinet will urge the NDA Govt to increase the state’s share of central taxes from 42 percent to 50 percent.
Bihar CM Nitish Kumar readies to oppose possible changes in 15th Finance Commission’s terms of reference
A day after meeting Prime Minister Narendra Modi in New Delhi, Kumar reportedly directed Bihar’s senior finance department officials to prepare a memorandum.
It accused the BJP-led Union government of trying to utilize the 15th Finance Commission to further centralise financial powers.
Amid stand-off with China, 15th Finance Commission begins national-level consultations with Arunachal Pradesh
The 15th Finance Commission has launched its national-level consultations with Arunachal Pradesh amidst the perception that the exercise will ruffle China’s feathers.
Southern states protest decision, arguing that they will lose revenue as population growth has been faster in the north.
NK Singh, the newly appointed Chairman of the 15th Finance Commission, today said it is imperative for such a panel to examine implications of GST on finance of the Centre and states.
The Union Cabinet on Wednesday approved the constitution of the 15th Finance Commission, whose recommendations have to be in place by April 1, 2020.