The government is likely to set up the 16th finance commission this year to suggest, among other things, the ratio in which tax is to be divided between the Centre and states for five years, beginning April 1, 2026, an official said.
The previous Finance Commission submitted its report on November 9, 2020, from 2021-22 to 2025-26. The 15th Commission, led by NK Singh, recommended maintaining the tax devolution ratio at 42 percent, the same as the 14th Commission’s suggestion.
Recent Comments