Prime Minister Narendra Modi has strongly refuted media reports suggesting a new tax on foreign travel. He stated there is absolutely no tr...

A major strike looms at Samsung Electronics over AI boom profits. Over 45,000 workers demand fair bonus distribution. The dispute could dis...

South Korea is discussing sharing the wealth generated by artificial intelligence. A government official suggested distributing AI profits,...

Union Budget 2026" The Budget proposes to maintain states' share of central taxes at 41 percent for the next five years. This aligns with F...

TMC's Derek O'Brien said that cess is hurting federalism. States are concerned about shrinking tax revenues, he claimed, adding that the Ce...

Several states requested an increase in their share of the central divisible pool from 41 per cent to 50 per cent, with Odisha expressing s...

Kerala Chief Minister Pinarayi Vijayan highlighted the rising trend of cess and surcharge levied by the Centre, which reduces states' share...

Chief Minister Siddaramaiah has urged the Finance Commission to cap cess and surcharge at 5% of gross tax revenue and include collections a...

The share of cesses and surcharges in GoI's gross tax revenue stood at about 10.4% in 2011-12, and has been rising sharply.

Despite the bold indirect tax reform of 2017, no consensus has been reached yet on including petrol and diesel within the goods and service...

Fact that we are one of those countries which have some kind of fiscal architecture, but does not have independent fiscal institutions is a...

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...

"42 per cent was the devolution formula based on the Finance Commission's recommendations as states' share but when there is one less state...

“Cesses and surcharges (revenue) must be shared with states but by limiting them to the central pool was further disempowering states,” sai...

In her Budget Speech, Finance Minister Nirmala Sitharaman said the commission has given its first report pertaining to 2020-21.

``We are inviting economists and policymakers to the seminar. We are also inviting finance ministers from other states, including BJP-ruled...

Goa Chief Minister Manohar Parrikar suggested to the Twelfth Finance Commission(TFC) that the divisible pool of central taxes be raised to ...