Page 6 - 15th Finance Commission
Finance Commission: 41% of taxes go to States; 1% for J&K, Ladakh in FY21
The 15th Finance Commission on Saturday recommended 41 per cent share in the divisible pool of taxes for states and 1 per cent for the newly created Union territories of Jammu & Kashmir and Ladakh for the financial year 2020-21, thus retaining the devolution formula of the earlier Commission. The 14th Commission had recommended the share of states at 42 per cent in the divisible pool of taxes. In her Budget Speech, Finance Minister Nirmala Sitharaman said the commission has given its first report pertaining to 2020-21. "In the spirit of co-operative federalism, I am pleased to announce that we have, in substantial measure, accepted the recommendations of the commission," she said. The commission would submit its final report to the President during the latter part of the year, for five years beginning 2021-22. The first report said that for 2020-21, the commission is inclined to leave the vertical split of divisible pool at the same level as recommended by the 14th ...
 "Finance Commission: 41% of taxes go to States; 1% for J&K, Ladakh in FY21")
Potentially disruptive north-south divide
For national harmony, allocation of revenues and parliamentary seats to states should continue to be based on the 1971 census
 "Potentially disruptive north-south divide")
Don't reduce devolution
Increasing grants and tied funds not enough
 "Don't reduce devolution")
Top 10 business headlines: AGR deadline nears; Bezos phone hack shocks UN
Three companies negotiate the deadline to pay the government dues for spectrum and the UN calls for a probe into the hacking of Amazon boss Jeff Bezos's phone.
 "Top 10 business headlines: AGR deadline nears; Bezos phone hack shocks UN")
15th Finance Commission may hike grants, cut devolution to states
Performance-based incentives planned to reduce friction between Centre, states
Govt addressing issues without waiting for Budget, says Nirmala Sitharaman
She also said that GST collection, which crossed Rs 1 lakh crore per month mark during the last two months, will remain "good" in coming days
Year in Review: Citizenship Act to Ayodhya verdict, key decisions of 2019
Days before curtains come down on 2019, we look at the key decisions and ideas that shaped the year
 "Year in Review: Citizenship Act to Ayodhya verdict, key decisions of 2019")
15th Finance Commission treating J&K like any other UT: N K Singh
How can you treat a UT to be anything other than a UT?, Singh said
 "15th Finance Commission treating J&K like any other UT: N K Singh")
Budget 2020: Centre may announce sops for states for pollution control
The Commission submitted its interim report for 2020-21 to President Ram Nath Kovind earlier this month
 "Budget 2020: Centre may announce sops for states for pollution control")
15th Finance Commission submits its report for FY21 to FM Sitharaman
The Commission had a wide-ranging terms of reference contained in the Presidential Notification
 "15th Finance Commission submits its report for FY21 to FM Sitharaman")
Fifteenth FC may have kept devolution of divisible tax pool unchanged
The interim report is likely to be made public just before or on the day of the Budget
 "Fifteenth FC may have kept devolution of divisible tax pool unchanged")
Cabinet approves extension to 15th Finance Commission for one year
The cabinet decision means the Commission will recommend its award to six fiscal years, instead of the usual five
 "Cabinet approves extension to 15th Finance Commission for one year")
States' GST compensation may need to be extended beyond 2022: Report
Serious inconsistencies in data make revenue projection problematic
15th Finance Commission may submit interim report to President on Saturday
Report expected to recommend devolution for FY21
Need alternatives to farm subsidies: Study released by Finance Commission
Procurement-based support could be replaced with price deficiency payments, but in the medium-term, they become difficult to manage
 "Need alternatives to farm subsidies: Study released by Finance Commission")
Finance commission chief Singh blasts frequent tinkering with GST rates
He also pitched for a rationalisation in Centrally- sponsored schemes, and blamed the government for not clearly defining the role of the Niti Aayog
 "Finance commission chief Singh blasts frequent tinkering with GST rates")
15th Finance Commission likely to get extension for J&K and Ladakh
Chairman NK Singh says the government is yet to give fresh terms of reference to the panel regarding Jammu and Kashmir and Ladakh
 "15th Finance Commission likely to get extension for J&K and Ladakh")
Finance Commission extension depends on terms of reference for J&K, Ladakh
Singh said that the commission will have to work on the devolution formula for the newly bifurcated union territories.
 "Finance Commission extension depends on terms of reference for J&K, Ladakh")
Govt likely to extend 15th Finance Commision's term by six months
Officials say there have been discussions on whether the treatment given to J&K will be unfair to Delhi and Puducherry
 "Govt likely to extend 15th Finance Commision's term by six months")
Fifteenth Finance Commission raises concerns on debt levels of states
The commission said the overall state debt has risen particularly due to UDAY scheme
 "Fifteenth Finance Commission raises concerns on debt levels of states")
