The 16th Finance Commission, a constitutional body that makes suggestions on Centre-state financial relations, is expected to be constituted by the Indian government by the end of November. The commission is responsible for recommending the ratio in which tax is to be divided between the Centre and states for five years starting April 1, 2026.
India s finance secretary, T.V. Somanathan, has said that the slowing Chinese economy is unlikely to have much of an impact on India s economy, and the government will continue with its capital expenditure push. The Chinese economy is suffering after retail sales, industrial output and investment data came in much lower than expected. Five major brokerages have now cut China s growth forecast for this year.