Fifteenth Finance Committee increased share of grants subject to reforms by states

Fifteenth Finance Committee increased share of grants subject to reforms by states

This year’s Union budget was accompanied by the unveiling of the report of the Fifteenth Finance Committee for the period 2021-22 to 2025-2026. This report presents some crucial recommendations for state governments, regarding fiscal deconcentration, Center grants, and guidelines for borrowing they are allowed to contract in the medium term.

The commission recommended that 41 percent of the government’s divisible tax pool be transferred to state governments during its allocation period of 2021-22 to 2025-2026. This vertical fiscal deconcentration is in line with the level that the 15th FC had recommended for 2020-2021. It differs only from the 14th FC …

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