The 15the FC will has studied the impact on the fiscal situation of the Union Government of substantially enhanced tax devolution to States following recommendations of the 14th Finance Commission. The primary task of the commission is to decide the formula for the distribution between the Centre and the states of net proceeds of taxes and the horizontal allocation of the devolution among states. It also decides on the rules for grants-in aid to the states out of the Consolidated Fund of India. Fifteenth Finance Commission that will decide the formula for sharing of tax es between the Centre and states for five years starting April 1, 2020.
Read more at: https://www.sify.com/finance/fc-report-by-nov-30-central-schemes-may-be-pruned-on-merit-cost-news-finance-tlwlBufiggcia.html
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The 15the FC will has studied the impact on the fiscal situation of the Union Government of substantially enhanced tax devolution to States following recommendations of the 14th Finance Commission. The primary task of the commission is to decide the formula for the distribution between the Centre and the states of net proceeds of taxes and the horizontal allocation of the devolution among states. It also decides on the rules for grants-in aid to the states out of the Consolidated Fund of India. Fifteenth Finance Commission that will decide the formula for sharing of tax es between the Centre and states for five years starting April 1, 2020. Read more at: https://www.sify.com/finance/fc-report-by-nov-30-central-schemes-may-be-pruned-on-merit-cost-news-finance-tlwlBufiggcia.html