HC pulls up govt for 'sleeping' over 4th Finance Commission report

Last Updated: Monday, June 29, 2015, 18:34

Delhi High Court on Monday pulled up the city government for "sleeping over" the implementation of recommendations of the 4th Finance Commission and setting up the 5th such panel, saying it had failed to comply with the constitutional mandate.

West Bengal to benefit hugely from Finance Commission award: FM Jaitley

Last Updated: Saturday, June 13, 2015, 21:51

Rejecting criticism that West Bengal has not gained from the 14th Finance Commission, Finance Minister Arun Jaitley on Saturday said the state will get Rs 2,85,200 crore during 2015-20, which is nearly three times the amount it received in the previous five years of UPA-2 regime.

Majority of states to gain because of FinCom report: Arun Jaitley

Last Updated: Monday, March 16, 2015, 18:33

Majority of states would stand to gain due to implementation of the 14th Finance Commission recommendations which has suggested 10 percent hike in devolution of funds to them, Finance Minister Arun Jaitley said Monday.

Bihar, Assam, Tripura may lose share in central taxes

Last Updated: Monday, March 9, 2015, 16:33

States like Bihar, Assam, Tripura and Uttarakhand may witness decline in their share in union taxes, following implementation of recommendations of the Fourteenth Finance Commission (FFC) though the constitutional body has raised the overall share of states by 10 percent to 42 percent.

States should use additional funds for infrastructure: PM Modi

Last Updated: Wednesday, March 4, 2015, 20:32

Prime Minister Narendra Modi on Wednesday suggested that additional funds and resources at the disposal of states should be directed primarily towards nation building, an official release here said.

Odisha to get more funds in Finance Commission: Pradhan

Last Updated: Sunday, March 1, 2015, 20:15

Refuting allegations that Odisha would lose revenue following the recommendations of the 14th Finance Commission, union Petroleum Minister Dharmendra Pradhan said on Sunday that it would get about Rs.8,000 crore more funds per annum compared to the 13th commission allocations.

Finance Commission for reforms in property tax regime

Last Updated: Wednesday, February 25, 2015, 21:45

In a significant recommendation, the 14th Finance Commission has called for reforms in property tax regime by giving powers to panchyats and municipalities to levy the tax on plinth basis with a provision for periodic revision and minimising grant of exemptions.

Finance Commission for 3.6% fiscal deficit in FY16; 3% in following years

Last Updated: Tuesday, February 24, 2015, 20:15

The 14th Finance Commission on Tuesday suggested a fiscal deficit target of 3.6 percent of GDP in 2015-16 and 3 percent in the subsequent years on the back of likely pick-up in economic growth.

Centre accepts Finance Commission report; States' share in taxes up 42%

Last Updated: Tuesday, February 24, 2015, 18:41

The total devolution to the states in 2015-16 will be Rs 5.26 lakh crore, as against Rs 3.48 lakh crore in 2014-15, representing an increase of Rs 1.78 lakh crore.

With higher funds, states can design schemes as per need: PM

Last Updated: Tuesday, February 24, 2015, 15:39

In a letter to all Chief Ministers, Modi said the states are free to change Centrally Sponsored Schemes and plan the course of their development.

14th Finance Commission report tabled; Jaitley says states must become self-sufficient

Last Updated: Tuesday, February 24, 2015, 15:31

Finance Minister Arun Jaitley on Tuesday said that states must gradually become self-sufficient while the entire system of discretionary payments must end.