15th Finance Commission report recommends 42% share for states in divisible tax poll till 2025-26
As per the glide path, fiscal deficit should be 6 percent in 2021-22, 5.5 percent in 2022-23, 5 percent in 2023-24, 4.5 percent in 2024-25, and 4 percent in 2025-26
File image of Nirmala Sitharaman. News18
New Delhi: The 15th Finance Commission has recommended that states, along with Ladakh and Jammu and Kashmir, be given 42 percent share in the divisible tax pool of the centre during the period 2021-22 to 2025-26.
The panel's report also provides a range for fiscal deficit and debt path of both the union and states. It further recommended additional borrowing room to states based on performance in power sector reforms.