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The 16th Finance Commission could perhaps incentivize the Centre to merge cesses and surcharges into the basic tax structure in exchange for a lower aggregate share for states.
BJP lawmakers and ministers launched a scathing onslaught on the Congress, leveling accusations of corruption against them during their tenure.
Read the State Finance Commission report that affirms economic injustice to Karnataka due to a significant reduction in its share of central taxes and duties. Find out the recommendations to address the financial challenges faced by the state.
The Centre’s share of taxes and grants that are to be transferred to states are based on a formula recommended by the Finance Commissions.
A White Paper on the Indian economy has been published by the Government Of India and Ministry of Finance.