Tag Archives: 15th

How 15th Finance Commission is trying to manage South India’s anger over tax division – and failing

No other country carries within it the diversity that India does. This trite-but-true dictum extends even to taxation, with different states having markedly different rates of prosperity. Karnataka, for example, has a per capita income that is almost five times that of Bihar. Expectedly, the manner in which India distributes the tax revenue it raises between the Union government and ... Read More »

15th Finance Commission gets extension till October 2020

It will submit an interim report on November 30 Union Cabinet on Wednesday decided to extend the term of 15th Finance Commission by 11 months to October 30, 2020. This is the second extension. After the first one, the term was to end on November 30. The Commission will submit its interim report on Saturday, November 30, 2019. This will ... Read More »

15th Finance Commission seeks say in GST Council amid Centre-states row

The Centre and state governments seem to be on a collision course amid a sharp economic downturn that has eroded their financial positions. Fifteenth Finance Commission (FFC) chairman N.K. Singh on Friday sought a leverage with the Goods and Services Tax (GST) Council, arguing that tax rate cuts and grant of exemptions decided solely by the council affects the FFC’s goal of ... Read More »

15th Finance Commission terms tilt fiscal scales in favour of the Centre

The challenge has been to achieve this without unduly damaging state government incentives for raising their own revenue, and for spending with profligacy. (Reuters) The current ruling coalition has shown a propensity for bold moves in its attempt to reshape India’s polity and society to match its vision of the nation. The economy has sometimes received similar treatment, with the ... Read More »

15th Finance Commission Invites Public Suggestions By June 30

The 15th Finance Commission is supposed to submit its recommendations by October 30, 2019. NEW DELHI:  The 15th Finance Commission, set up to recommend the devolution of central pool taxes to states, as well as a fiscal consolidation roadmap for government finances, has invited suggestions from the public, according to the Union Finance Ministry on Thursday Headed by NK Singh, the ... Read More »