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DEVOLUTION OF CENTRAL TAXES
West Bengal FY27 Budget: SBI report hints shift to investment-led growth and economic transformationWest Bengal's FY27 budget signals a strong pivot towards investment-led growth, emphasizing industrialization and long-term economic transf...- SBI Research sees Bengal budget tone most optimistic in 17 yearsWest Bengal's new budget signals a significant policy shift, moving from welfare to investment and industrial growth, according to SBI Rese...
- Additional Rs 81,735 crore tax devolution ok'd for statesThe central government has approved an additional tax devolution of ₹81,735 crore to state governments. This will be released on June 2. Th...
- Arunachal requests Finance Comm for special package to compensate externally aided projects lossArunachal Pradesh has requested the 16th Finance Commission for a Rs 6.89 lakh crore special financial package due to exclusion from extern...
- Modi govt denies 'special category' status to BiharThe central government has rejected Bihar's request for 'special status'. According to government sources, no additional states are eligibl...
- Tripura receives additional tax devolution of Rs 1006 croreThe announcement has been met with appreciation from Tripura Chief Minister Manik Saha, who acknowledges the funding's potential to boost i...
- Injustice to Karnataka in tax devolution, loss of over Rs 45,000 crore in 4 years: SiddaramaiahChief Minister Siddaramaiah alleged injustice to Karnataka by the Central government with reduction in tax devolution, resulting in a loss ...
- Centre releases 2 instalments of tax devolution to state govts amounting to Rs 1.16 lakh croreThe Ministry of Finance on Wednesday informed that the Centre has released two instalments of tax devolution to the state governments amoun...
- States expect higher tax devolution from Centre; to borrow less in FY23: IcraThe central tax devolution is likely to rise to Rs 9.3 lakh crore in FY23 from Rs 8.8 lakh crore in FY22 and from Rs 8.2 lakh crore estimat...
- States to forego Rs 44,000 crore from VAT reduction on fuels: ReportAfter months of calls for lowering the taxes on the fuels, the Centre on November 4 cut excise duty on diesel by Rs 10 a litre and by Rs 5 ...
- States may have to cut FY21 capital spending by Rs 3.4 lakh crore: ICRAThe additional borrowing options would push state fiscal deficits to 4.25-5.52% of gross state domestic product (GSDP).
- FinMin sanctions Rs 92,077 cr to states as devolution of central taxesIn a tweet, the Office of Finance Minister Nirmala Sitharaman said, "GoI has released a total amount of Rs 92,077 crore, as state's share i...
- GST compensation required by 9 large states could double to Rs 70,000 crore in FY'20: ICRAICRA also expressed apprehension that "the central tax devolution (CTD) to these states in 2019-20 could be Rs 595-770 billion (Rs 59,500-7...
- Nothing alarming about doubling of states Q1 borrowings:ReportThe agency said the surge in market borrowings is in contrast to a budgeted decline in states' fiscal deficits in FY9 compared to the revis...
- Karnataka CM Siddaramaiah slams Centre for cut in fundsSiddaramaiah said the budgetary cuts were cruel since the affected schemes target the poor and children like mid-day meal and others.
- 14th Finance Commission's tax formula a big let down: Bihar CM Nitish KumarWhile accepting the Finance Commission's recommendations, the Centre has done away with the other source of funding which were made availab...
- Finance Commission suggests higher share to states in central taxes"The higher tax devolution will allow states greater autonomy in financing and designing of schemes as per requirements," the report said.
- Andhra Pradesh pitches for rewarding states with better finance managementThe AP government today put forth a number of suggestions before the 14th Finance Commission for "rewarding" states based on fiscal managem...
- Gujarat State Finance Commission working on formula for financial devolutionLocal taxes like professional tax, entertainment tax, education cess, water tax and surcharge on stamp duty constitute 25-45% of the revenu...
- States must stand on their own feetStates are once again demanding that their share in the divisible pool of central taxes be raised from the current 30.5% to 40-50%.
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