MLA demands 3rd state Finance Commission for Goa


Panaji: Independent MLA Rohan Khaunte on Friday demanded formation of third state Finance Commission for Goa, which is due for last six years.

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

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

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.

Govt to highlight development initiatives before people

Faced with Opposition attack on issues including land ordinance and budget provisions, government on Friday huddled to work out a strategy to highlight its development initiatives.

States should use additional funds for infrastructure: PM Modi

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

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.

Amarinder blames Badal for FC's debt relief refusal to Punjab

Congress leader Capt Amarinder Singh on Sunday blamed Chief Minister Parkash Singh Badal for the Finance Commission's refusal to provide debt relief to Punjab despite the state having been identified as debt-stressed by the commission along with Kerala and West Bengal.

Finance Commission recommendations 'loss' for Bihar: Nitish to PM Modi

Describing recommendations of the 14th Finance Commission as "regressive" for resource-hit states like Bihar, Chief Minister Nitish Kumar on Friday send a protest letter and sought special arrangements for the state against the expected loss.

Finance Commission for reforms in property tax regime

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.

14th Finance Commission: J&K to get maximum grant of Rs 60,000 crore

Among 11 revenue-deficit states, Jammu and Kashmir will get the maximum grant of about Rs 60,000 crore in five-year period ending March 2020, as per the recommendations of 14th Finance Commission which have been "in-principle" accepted by the government.

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

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

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

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

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

Finance Commission suggests higher share to states in central taxes

The Finance Commission has suggested raising share of states in central taxes to 42 percent from current 32 percent.

Fin Comm can look into GST compensation issue: Sumit Bose

The Finance Commission can be involved in the exercise of compensating states for revenue losses following implementation of the Goods and Services Tax (GST), said former Revenue Secretary Sumit Bose.

Experts put their heads together on new avatar of PlanComm

Former ministers, members of the Planning Commission and experts on Tuesday met in the Yojana Bhawan to discuss the framework of the new body which will replace the 64-year old plan panel.

Finance panel team to meet UP officials

A team from the 14th Finance Commission will meet officials of the Uttar Pradesh government, officials said.

Nitish Kumar seeks 50:50 share of revenue between Centre, states

Bihar government will ask for 50:50 sharing of tax revenue between Centre and states from 14th Finance Commission to make recommendation.

BJP, Cong seek more funds for Gujarat from central revenues

The 14th Finance Commission, which began its two-day visit to Gujarat on Monday, received memorandums from ruling BJP and opposition Congress seeking more funds from central revenue pool for the state.