Tax Devolution News Today

Modi challenges BJP's South India absence narrative, emphasising historical ties, condemning regional division attempts, and asserting commitment to Kerala's progress

Experts said the Centre would comfortably meet the downwardly revised fiscal deficit target for the fiscal. The fiscal deficit in absolute terms was revised down to ₹ 17.35 lakh crore or 5.8% of gross domestic product (GDP) from the earlier budget estimate of ₹17.87 lakh crore.

Karnatakas GST Council rep challenges FM for debate on tax devolution claims. Minister disputes FMs assertion on taxes, seeks special grants. BJP CMs back Karnatakas claim. FM denies bias, rejects special grant allegations.

Amidst controversies, Sitharaman reaffirms Centres timely allocation of funds, highlighting significant disbursements for Karnatakas development initiatives

The Centre needs to revisit the 'income distance' criterion, which gets a heavy weightage in the computation of tax devolution. Southern states, in turn, need to address their own pain points. It's give some, take some.

Without diving into the north versus south debate, the former bureaucrat said that the overall debt of many of the southern states are certainly a matter of concern and advocated for prudent management of the same.

There has been a significant jump in states’ share in central taxes and grants during the 10-year of the Narendra Modi-led NDA, Union finance minister said. | Latest News India

Meanwhile, the Bharatiya Janata Party Karnataka MPs are holding simultaneous protests in front of the Gandhi statue in Parliament over the alleged misuse of funds by the Siddaramaiah government.

Karnataka CM Siddaramaiah along with his deputy DK Shivakumar arrived at the Delhi airport earlier in the morning to participate in the protest.

It is to be noted that CM Siddaramiah will be leading a protest against the Union Government in Delhi on February 7 (Wednesday) against what the state terms is step-motherly treatment to it by the Centre.