There may be no official word yet on how the Centre's tax revenue assumptions for the current year have gone awry
COVID-19 will cause no less a disruption to the economy than the goods and services tax has done
Singh also said that as the situation evolves, the issue of disaster management can be reviewed - both in state specific and national context
Of the envisaged amount, Rs 29,510.86 crore is expected to flow from the state's internal resources
The committee will submit its recommendations within three months for further consideration of the Commission, it said
The average annual grant under was increased by Modi to Rs 14,407 crore in 14th Finance Commission and now to Rs 19,309 crore in 15th Finance Commission for 2020-2021, he said
The reduction in devolution to 41 per cent from 42 per cent earlier will lead to an up to Rs 4,000 crore hit to Telangana, Rao told reporters on the sidelines of the NTLF here.
This is something the 15th FC had said it will do in its first report
"We have decided to constitute a fiscal committee, which will address one particular recommendation contained in our terms of reference regarding a legal framework for the fiscal architecture," Singh
The five-member group, to be headed by Finance Commission Chairman N K Singh, comprise secretaries from the ministries of defence, home affairs and finance, besides a member of Commission
The Advisory Council of the Fifteenth Finance Commission will meet on Thursday
The meeting will be chaired by chairman of the Commission, N K Singh, and will be attended by its members including A N Jha, Ashok Lahiri, Ramesh Chand, Anoop Singh and Arvind Mehta.
Experts say MoSPI can take up leadership role but states will have to do actual work
The term of the commission was originally set to end in October 2019, but was extended by one month to November 30
States such as Bihar, Maharashtra, and erstwhile state of Jammu & Kashmir stand to gain, compared with the current year's share, while Karnataka, Telangana, and Kerala stand to lose
The Jammu and Kashmir Reorganisation Act, 2019 says that UT of J&K should get grants from the divisible pool.
Finance Commission's decision to incorporate "demographic performance" in fiscal transfers is laudable
Business Standard Opinion pieces for the day talk about the Budget, Finance Commission and other policy issues
The panel may include or seek inputs from former RBI Governor Urjit Patel, former chief economic advisor Arvind Subramanian, Sajjid Chinoy of the PM-EAC, Rathin Roy, among others
FC's final report should mirror the interim award