The NDA Govt on Tuesday Feb 24,2015 accepted the 14th Finance Commission’s
recommendation to give states 42 % of the Union government’s tax
revenue as against the current figure of 32%
For 2015-16, this translates to an additional Rs 1.78 lakh crore for the states.This means that over a period of five years, the states would get Rs 5.26 lakh crore of revenue from the centre’s divisible pool.
Immediately after the report was tabled in Parliament, Prime Minister Narendra Modi wrote in a letter to the states: “You will appreciate that, following the acceptance of the 14th Finance Commission’s recommendations, we are moving away from rigid centralised planning, forcing a ‘one-size-fits-all' approach on states.”
PM Narendra Modi said that though the Centre would be left with decreased funds, he wanted to “strengthen the hands of states” in pursuing their development agenda as per their requirements
For 2015-16, this translates to an additional Rs 1.78 lakh crore for the states.This means that over a period of five years, the states would get Rs 5.26 lakh crore of revenue from the centre’s divisible pool.
Immediately after the report was tabled in Parliament, Prime Minister Narendra Modi wrote in a letter to the states: “You will appreciate that, following the acceptance of the 14th Finance Commission’s recommendations, we are moving away from rigid centralised planning, forcing a ‘one-size-fits-all' approach on states.”
PM Narendra Modi said that though the Centre would be left with decreased funds, he wanted to “strengthen the hands of states” in pursuing their development agenda as per their requirements
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