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Opted for predictability in deciding tax devolution to states: N K Singh

The 15th Finance Commission opted for continuity and predictability and hence retained the share of tax devolution to states at 41 per cent of the total pool, its chairman N K Singh said on Saturday.
Speaking at a webinar organised by the Centre for Policy Research (CPR), Singh said each Finance Commission in the past has somewhat increased the total amount of devolution to states, but the 15th Finance Commission weighed all the options considering that the fiscal space of both states and the Centre has shrunk on account of the Covid-19 pandemic.
Rajya Sabha MP Sushil Kumar Modi highlighted that the share of divisible pool is slowly shrinking as the cess and surcharge component in Gross Tax revenue is increasing. ....

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india news: View: India needs to raise government revenue to ensure equalisation and growth

A coordinated effort across taxes and levels of government is necessary to eliminate the tax gap, make the tax system more effective, equitable and efficient, and build fiscal federalism. ....

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Budget 2021–22 on Health : Setting Us Back by a Few Years

Budget 2021–22 on Health : Setting Us Back by a Few Years
epw.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from epw.in Daily Mail and Mail on Sunday newspapers.

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Budget 2021–22

Budget 2021–22
epw.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from epw.in Daily Mail and Mail on Sunday newspapers.

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Moody's expects India's fiscal position to remain weak - The Hindu BusinessLine

Moody’s expects India’s fiscal position to remain weak
February 25, 2021
ICRA believes economic recovery will continue in fiscal 2022
Moody’s indicated on Thursday that India’s fiscal consolidation remains weak, given large debt burden and low medium-term GDP growth.
While Moody’s Investors Service says India’s (Baa3 negative) weak fiscal position will remain a key credit challenge in 2021, its Indian affiliate, ICRA, says it expects a considerable rebound in India’s economic growth in the fiscal year ending March 31, 2022 (fiscal 2022), on the back of higher Central government spending and a pick-up, albeit uneven, in consumption.
ICRA projects that real and nominal GDP will rise 10.5 per cent and 14.5 per cent, respectively, for fiscal 2022 as the pandemic recedes. According to Moody’s, the Central government’s fiscal deficit for fiscal 2021 and fiscal 2022 should be lower than projected, supported by stronger revenue generation in the fo ....

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