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Government Gives Two Tax Devolution Instalments To States Worth Rs 95,082 Crore

The two instalments were released against the normal monthly devolution of Rs 47,541 crore which is given to states by the union finance ministry ....

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The importance of EQ over IQ for politicians

Read more about The importance of EQ over IQ for politicians on Business Standard. Humility, not hubris, should be the middle name of any Indian politician who wants to achieve his goals ....

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15th FC chairman Singh raises issue of 15th FC chairman Singh raises issue of lack of fiscal institutions in Indialack of fiscal institutions in India

N K Singh, chairman of the 15th Finance Commission, on Monday flagged the absence of independent fiscal institutions and lack of flexibility for states to deviate from the fiscal consolidation roadmap in times of emergency.
“There is a lack of fiscal institutions in India, it be by your fiscal Council, or by any other institution. While the country has some kind of a fiscal architecture, it does not have independent fiscal institutions,” said Singh during a webinar on India’s Overall Fiscal Architecture, organised by the Centre for Social & Economic Progress.
Then, there is this asymmetry of power between the Centre and the states over fiscal flexibility. ....

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15th Finance Commission opted for continuity, predictability in deciding tax devolution to states: N K Singh

15th Finance Commission opted for continuity, predictability in deciding tax devolution to states: N K Singh
Synopsis
The 15th Finance Commission has recommended that states be given 41 per cent of the divisible tax pool of the Centre during the period 2021-22 to 2025-26, which is at the same level as was recommended by the 14th Finance Commission.
Agencies
N K Singh
The 15th Finance Commission opted for continuity and predictability and hence retained the share of tax devolution to states at 41 per cent of the total pool, its chairman N K Singh said on Saturday. Speaking at a webinar organised by the Centre for Policy Research (CPR), Singh said each Finance Commission in the past has somewhat increased the total amount of devolution to states, but the 15th Finance Commission weighed all the options considering that the fiscal space of both states and the Centre has shrunk on account of the COVID-19 pandemic. ....

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