-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 »New GDP numbers' sheen to UPA-II -Indivjal Dhasmana
-Business Standard Govt's revised method of calculating output and growth make recomparisons inevitable in earlier judgments At the outset, nobody would believe that India's economy expanded by double-digits only four years earlier and the growth rate in gross domestic product (GDP) dived to as little as below four per cent during the global financial crisis period of 2008-09. Yet, these would be the facts if one measures growth in terms of the...
More »Five Important Questions On Food Security -Lola Nayar
-Outlook A parsing of the recent expert report on food security reveals that most of its solutions do not meet the greater public good. The BJP's election manifesto had stated "that ‘universal food security' is integral to national security. BJP will take steps to ensure that the benefits of the scheme reach the common man and that the right to food does not remain an act on paper or a political...
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