New Delhi: Ahead of the budget session of
Parliament, the Cabinet is likely to discuss tomorrow the 13th
Finance Commission report which has laid out the roadmap for
sharing of taxes between the Centre and states.
The commission, headed by Vijay Kelkar, in its report
submitted to President Pratibha Patil is believed to have
suggested higher allocation to the states. The report, once
approved by the Cabinet, is likely to be tabled in Parliament
during the budget session beginning February 22, sources said.
Some of its recommendations may find place in the budget
to be unveiled on February 26.
Mukherjee had said that the some of the suggestions would
be reflected in his budget for 2010-11.
The report assumes importance as the new indirect tax
regime-- GST--is scheduled to be implemented from the next
fiscal and the new direct tax code is likely to come into
effect from 2011.
The 13th finance commission was appointed in November
2007 with the mandate to review the finances of the Centre and
the states, and sharing of net proceeds from taxes between the
two. Besides chairman Kelkar, the other members of the
commission included BK Chaturvedi, Indira Rajaraman, Atul
Sarma, Sanjiv Misra and member-secretary Sumit Bose.
-PTI
First Published: Wednesday, February 10, 2010, 21:44