Odisha finances to bleed further as Centre reduces tax share, grants
The slowing economy has not only resulted in low growth in Odisha's own revenue but also those that devolve from the Centre.
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Tax devolution and grant for Odisha till October this year is 21 % and 15.5 % less respectively as compared to the corresponding period in 2019. (Photo | PTI)
Express News Service
BHUBANESWAR: The storm over GST compensation might have settled down with the states agreeing to Option 1 - allowing the Centre to borrow from open market to meet the shortfall, significant reduction in the share of central tax and grant will deal a deadly blow to states that are already financially hit by the COVID-19 pandemic.