-FirstPost.com Abhijit Sen, part-time member of the Planning commission, has openly criticised some of the recommendations of the 14th Finance Commission, particularly with respect to the ones on sharing of taxes to state governments. The dissent note was carried in the report of the commission tabled in Parliament on Tuesday. "The recommendations regarding devolution and revenue deficit grants are bound to disrupt existing plan transfers, with likely very serious effects in the...
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Modi government accepts Finance Commission recommendations, states to get 42% share in central taxes
-The Times of India NEW DELHI: The Modi government said on Tuesday that it has accepted the recommendation of Finance Commission to raise the share of states in central taxes to 42 per cent from current 32 per cent. As per the increased devolution suggested in the report of the 14th Finance Commission, the states will get Rs 3.48 lakh crore in 2014-15 and Rs 5.26 lakh crore in 2015-16. "The higher tax...
More »Finance panel report not unanimous -Puja Mehra
-The Hindu The 14th Finance Commission, chaired by former Reserve Bank Governor Y.V. Reddy, has not submitted a unanimous report. Abhijit Sen, commission member, gave a dissent note to the report. The Modi government has not yet announced its decision on the report submitted to President Pranab Mukherjee's office in mid-December. Union Finance Minister Arun Jaitley did not table it in Parliament during the Winter Session. Mr. Jaitley is expected to present...
More »Ministry for adding lightning to the list of notified disasters
-PTI People killed in lightening incidents may now be compensated by the government if a recommendation of the Union Home Ministry to this effect is accepted. As India accounts for an average 400 deaths due to lightening every year, the Ministry has moved a proposal to the 14th Finance Commission, suggesting inclusion of lightning in the list of notified disasters eligible for assistance from national and state disaster relief funds. At present,...
More »WB Oppn Seeks Rs 5.5 Lakh Cr From Finance Commission
-Outlook Kolkata: The Opposition Left Front in West Bengal today demanded Rs 5,50,000 crore for the state during 2015-2020 period, which is more than double of what the ruling Trinamool Congress government had demanded from the 14th Finance Commission. "We from the Left Front had met the 14th Finance Commission and the meeting was fruitful. We had demanded about Rs 5,50,000 crore for the state," former state finance minister Asim Dasgupta said...
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