States’ tax share to stay at 42%

  • The Fifteenth Finance Commission, in its interim report tabled in Parliament has recommended maintaining States’ share in the divisible pool of tax collections at virtually the same level of 42% set by its predecessor, for 2020-21.
  • To factor in the changed status of the erstwhile State of Jammu and Kashmir, the rate at which funds may be shared with the States has been reset to 41%.
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