Join our Whatsapp channelFOR years, forces favouring a stronger centre have pushed for rolling back some aspects of the 18th Amendment to curtail provincial powers and revise the National Finance Commission in order to shore up the centre’s strained finances. The debate — fuelled by Islamabad’s chronic fiscal stress — is sustained by the belief that reducing revenue transfers to the provinces would provide an easy, if contentious, fix to the federal government’s fiscal woes.... It is argued tha

The Centre on Friday released tax devolution of Rs 1.73 lakh crore to the state governments to

.... 95, 082 crore be given to the states," Sitharaman said. The share of states in central taxes—at

states in central taxes be raised to 50 per cent from 41 per cent.... In the 15th Finance Commission

I have directed the finance secretary to do this immediately.... States are allowed to borrow from the markets to the extent that it does not increase their fiscal deficit beyond 3 per cent of their gross state domestic product( GSDP).... However, this was also higher by 23 per cent against the corresponding period of 2019-20, a pre-pandemic year. The finance minister said states asked for a better dispute resolution mechanism after the approval of projects, improving road connectivity, etc...

Though the Centre’s gross tax revenues nearly doubled in the first quarter of financial year

The need for redefining the role of the state and the government for achieving sustainable and inclusive growth cannot be over-emphasised.... Secondly, does the solution lie in return to a highly centralised system or wider dispersal of authority and responsibility?... Looking at the historical legacy, the centralisation at the cost of democracy and the corresponding command economy led to the collapse of the Soviet empire....

accused the UK Government of not respecting the devolution settlement by using powers that would

Aided by robust tax collections, the Centre on Thursday released the third instalment of tax

India’s gross tax revenue, comprising both direct and indirect taxes between April and July