Live Breaking News & Updates on 15th finance commission

Stay informed with the latest breaking news from 15th finance commission on our comprehensive webpage. Get up-to-the-minute updates on local events, politics, business, entertainment, and more. Our dedicated team of journalists delivers timely and reliable news, ensuring you're always in the know. Discover firsthand accounts, expert analysis, and exclusive interviews, all in one convenient destination. Don't miss a beat — visit our webpage for real-time breaking news in 15th finance commission and stay connected to the pulse of your community

The finance commission's creation of a special defence fund is a setback to Indian federalism

The finance commission’s creation of a special defence fund is a setback to Indian federalism
The fund sets a troubling precedent which could force cash-strapped states to pay for the functions of the much richer Centre.
Nithya Subramanian
On February 1, the 15th Finance Commission’s report was tabled in Parliament. The job of the finance commission – to draw a framework for how to distribute monies between New Delhi and the states every five years – might seem dour but it is also critical to keep the world’s largest federation running.
There weren’t many surprises in the report, except for one. The commission recommended the creation of a “Defence Modernisation Fund” focussed on the capital needs of India’s military.

India , United-kingdom , New-delhi , Delhi , British , Narendra-modi , Defence-modernisation-fund , Indian-union , Finance-commission , Seventh-schedule , British-raj , Prime-minister-narendra-modi

Cess, surcharge share doubles to 19.9% of central taxes in FY21: Report

Cess, surcharge share doubles to 19.9% of central taxes in FY21: Report
SECTIONS
Last Updated: Mar 02, 2021, 03:51 PM IST
Share
Synopsis
The key reason for higher growth in grants-in-aid and lower growth in tax devolution to the states is the increase in the proportion of the central cess and surcharges as they are not part of the tax devolution to the states, said the agency's Principal Economist Sunil Kumar Sinha.
Getty Images
The share of cesses and surcharges in the gross tax revenue of the Centre has nearly doubled to 19.9 per cent in 2020-21 from 10.4 per cent in 2011-12, leading to the 15th Finance Commission to recommend a higher grant-in-aid and lower tax devolution to the states, according to a report.

Jammu , Jammu-and-kashmir , India , Tripura , Manipur , Uttar-pradesh , Himachal-pradesh , Uttarakhand , Uttaranchal , Karnataka , Odisha , Orissa

Beyond the pandemic: The crisis of revenues

Exclusive content, features, opinions and comment - hand-picked by our editors, just for you.
Pick 5 of your favourite companies. Get a daily email with all the news updates on them.
Track the industry of your choice with a daily newsletter specific to that
industry.
Stay on top of your investments. Track stock prices in your portfolio.
NOTE :
This product is a monthly auto renewal product.
Cancellation Policy: You can cancel any time in the future without assigning any reasons, but 48 hours prior to your card being charged for renewal. We do not offer any refunds.
To cancel, communicate from your registered email id and send the mail with the request to assist@bsmail.in. Include your contact number for easy reference. Requests mailed to any other ID will not be acknowledged or actioned upon.

India , Ashokk-lahiri , Visa-credit-card , Standard-digital , Business-standard , Seamless-sign-up , Business-standard-digital , Debit-cards , Net-banking , Payment-wallets , Corona-virus

GST Council may take up rationalising tax rates, slab merger in next meet

Exclusive content, features, opinions and comment - hand-picked by our editors, just for you.
Pick 5 of your favourite companies. Get a daily email with all the news updates on them.
Track the industry of your choice with a daily newsletter specific to that
industry.
Stay on top of your investments. Track stock prices in your portfolio.
NOTE :
The monthly duration product is an auto renewal based product. Once subscribed, subject to your card issuer's permission we will charge your card/ payment instrument each month automatically and renew your subscription.
In the Annual duration product we offer both an auto renewal based product and a non auto renewal based product.

Narendra-modi , Services-tax , Finance-commission , Prime-minister-narendra-modi , Visa-credit-card , Standard-digital , Business-standard , Seamless-sign-up , Business-standard-digital , Debit-cards , Net-banking , Payment-wallets

Best of BS Opinion: Sugarcane pricing, higher tax-GDP, and more

To meet its terms of reference, the 15th Finance Commission has recommended a separate mechanism for funding defence and external security but it has facilitated this by a reduction in grants to the states, which works out to Rs 1.5 trillion over five years. “As a consequence, the Commission has penalised the primary engines of development spending in India: The state governments,” the
top edit points out.
A more lasting solution would have been for the government to focus on improving tax collection as a percentage of gross domestic product to fulfill its obligations, the edit argues. Read it here.
In other opinion today:

India , Narendra-modi , Aakar-patel , Facebook , Finance-commission , Bs-opinion , Curated-content , 15th-finance-commission , Indian-economy , Indian-companies , Gdp , Defence-expenditure

Merger of 12% and 18% GST rate slabs soon

Recently, the 15th Finance Commission has also recommended merging 12 per cent and 18 per cent tax rates.

India , New-delhi , Delhi , International-monetary-fund , Services-tax , Finance-commission , Reserve-bank , Gst , Gst-rate , Gst-structure , 15th-finance-commission

Decoding 15th FC's estimate of mismatch in two sets of salary income data

Exclusive content, features, opinions and comment - hand-picked by our editors, just for you.
Pick 5 of your favourite companies. Get a daily email with all the news updates on them.
Track the industry of your choice with a daily newsletter specific to that
industry.
Stay on top of your investments. Track stock prices in your portfolio.
NOTE :
This product is a monthly auto renewal product.
Cancellation Policy: You can cancel any time in the future without assigning any reasons, but 48 hours prior to your card being charged for renewal. We do not offer any refunds.
To cancel, communicate from your registered email id and send the mail with the request to assist@bsmail.in. Include your contact number for easy reference. Requests mailed to any other ID will not be acknowledged or actioned upon.

National-accounts-statistics , Finance-commission , National-accounts , Visa-credit-card , Standard-digital , Business-standard , Seamless-sign-up , Business-standard-digital , Debit-cards , Net-banking , Payment-wallets

Indian economic documents exude a growth anxiety

Indian economic documents exude a growth anxiety
Photo: MintPremium
Share Via
Read Full Story
The past fortnight witnessed the confluence of three important economic events: the Budget, release of the 15th Finance Commission’s report, and Reserve Bank of India’s (RBI) final bi-monthly monetary policy for 2020-21. These three documents are sending rather dismal messages; the Budget document, in particular, seems imbued with signals of lower growth, with the Finance Commission and RBI further muddying the waters.
The Budget for 2021-22 has projected nominal gross domestic product (GDP) growth of 14.4% over the first advance estimates for 2020-21. Given that 2020-21 was a “non-standard" year and presents a distorted base for comparison, it might be more prudent to compare 2021-22 projected GDP growth with 2019-20, which works out to 9.5% nominal growth. If we charitably assume that consumer inflation during 2021-22 will stick to the 4% target, we are looking at 5.5% real GDP growth. The feasibility of 10.3% gross tax revenue growth between March 2020 and March 2022 must then be viewed through this lens.

India , Kerala , Iran , Nirmala-sitharaman , Ali-khameini , M-govinda-rao , Rajrishi-singhal , Tm-thomas-isaac , Lekha-chakraborty , Linkedin , Southeast-asian , Govinda-rao

Don't read 41% share for states from divisible tax pool as 'reduction': FM

"42 per cent was the devolution formula based on the Finance Commission's recommendations as states' share but when there is one less state, which has become a Union territory... to that extent that one per cent was brought down,"Sitharaman said during an intervention on Budget discussion.

Jammu , Jammu-and-kashmir , India , Ladakh , Lok-sabha , Supriya-sule , Finance-minister-nirmala-sitharaman , Finance-commission , Union-territories , 15th-finance-commission , Nirmala-sitharaman

India Ratings and Research: India will grow 10.4% in FY22, but meaningful recovery will only happen in FY23: India Ratings

“FY22 would broadly be covering the lost ground of FY21, so the growth will be very minuscule and we will probably have to wait till FY23 for any meaningful recovery to happen,” said Sunil Kumar Sinha, principal economist at Ind-Ra, during a virtual conference on Wednesday.

India , Sunil-kumar-sinha , Research-ind , India-ratings , Finance-commission , India-ratings-and-research , Economic-recovery , 15th-finance-commission , Indra , Economic-growth , இந்தியா