Raise states' share in central taxes to 50%: T'gana to 16th FinComm

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Raise states' share in central taxes to 50%: T'gana to 16th FinComm - Business Standard

Quick Summary:

The Telangana Government on Tuesday requested the 16th Finance Commission to increase the share of states in Central taxes from the existing 41 per cent to 50 per cent as over the years cesses and surcharges that are not shared with states have increased.

Deputy Chief Minister in-charge of Finance Bhatti Vikramarka in his speech at the meeting with Finance Commission Chairman Arvind Panagariya and members also urged the finance panel to ensure that states are given the necessary autonomy to tailor CSS (centrally-sponsored scheme) programmes to their specific development needs.

Over the years, cesses and surcharges that are not shared with states have increased, leaving states with a smaller share of total gross tax revenue," he said.