The government has extended the tenure of the 16th Finance Commission by one month till November 30. The 16th Finance Commission was constituted by the government on December 31, 2023, with former Niti Aayog vice-chairman Arvind Panagariya as its Chairman.
The 16th Finance Commission, led by Arvind Panagariya, has recommended maintaining the states' share in central taxes at 41% for the five-year period starting April 1, 2026. The government has accepted this recommendation, with Rs 1.4 lakh crore allocated to states for FY 2026-27 as Finance Commission Grants.
The government on Sunday appointed former Niti Aayog vice chairman Arvind Panagariya as the Chairman of the 16th Finance Commission. Joint Secretary in the finance ministry Ritvik Ranjanam Pandey will be the secretary to the commission, the government said in a notification. "The President is pleased to constitute a Finance Commission with Dr Arvind Panagariya, former Vice-Chairman, NITI Aayog and Professor, Columbia University, as the Chairman. Members of the Commission will be notified separately," it said.
India Ratings & Research (Ind-Ra) has projected the aggregate fiscal deficit of states to rise to 3 per cent of gross domestic product (GDP) in 2026-27 (FY27), from an estimated 2.8 per cent in 2025-26 (FY26), citing higher revenue expenditure amid election-related pressures and scheme cost-sharing requirements.
The Finance Commission, which makes recommendations on sharing of tax revenues by the Centre and States, has suggested a new path for fiscal prudence in its report submitted to President Pratibha Patil on Wednesday.
The government has proposed to lower debt-to-GDP ratio to 55.6 per cent in FY27, from 56.1 per cent in the current fiscal year, Finance Minister Nirmala Sitharaman said on Sunday.
The government has proposed to lower debt-to-GDP ratio to 55.6 per cent in FY27, from 56.1 per cent in the current fiscal year, Finance Minister Nirmala Sitharaman said on Sunday.
On Agri Stack, Expenditure Secy V Vualnam says it's progressing well; using IT, farmers will be able to choose exact fertiliser quantities needed, reducing crowding at fertiliser outlets.
Governments should move away from universal subsidies towards tightly targeted transfers, backed by stricter eligibility norms, sunset clauses and periodic audits to curb leakages and improve spending efficiency, a joint study by Asian Development Bank and PwC has recommended.
The Telangana government's salary structure reveals surprising figures, with senior sweepers earning up to 2 lakh and chief engineers drawing 7 lakh monthly.
The Congress party has accused the Modi government of abusing its power and distorting the Model Code of Conduct (MCC) during the upcoming assembly elections in Assam, Tamil Nadu, Kerala, West Bengal and Puducherry. The party alleges that the MCC has become 'Modi's Code of Campaigning' filled with defamation and lies.
In modern investing, transparency is more valuable than zero fees and not all investing app score big on this front, says Ramalingam Kalirajan.
The Twelfth Finance Commission is ready with its report and has sought time from the President to submit the recommendations, its chairman C Rangarajan said on Saturday.
The Jammu and Kashmir government is working to fill over 40,000 vacant posts across various departments, with a focus on health, education, and general administration.
Around 24 paise will come from borrowings and other liabilities, 10 paise from non-tax revenue like disinvestment, and 2 paise from non-debt capital receipts, the Budget documents showed.
After the last Budget's announcement of a major tax relief for those earning an annual salary of less than Rs 12 lakh, there is not much that individuals can look forward to in the forthcoming Budget, points out A K Bhattacharya.
Political observers said the announcement assumes significance as the state prepares for the assembly elections, with political parties stepping up outreach to various community groups.
Former chief secretary Indu Kumar Pande, the chairman of the commission, has been left with only seven months to complete the recommendations.
The Union Budget for 2026-27, presented by Finance Minister (FM) Nirmala Sitharaman on Sunday, which was a first, had an excellent domestic macro backdrop. According to the first advance estimates, gross domestic product (GDP) in constant prices is projected to grow 7.4 per cent in the current financial year, against 6.5 per cent in 2024-25.
Four Assam Congress workers have been arrested for allegedly possessing and transporting pamphlets containing allegations against Chief Minister Himanta Biswa Sarma, sparking controversy and accusations of undemocratic action.
'This Budget has a one-year agenda, which you can call the sprint, and the marathon is towards Viksit Bharat.'
Finance Minister Nirmala Sitharaman launched a strong attack on Rahul Gandhi and the Congress party, accusing them of compromising India's interests on the world stage and selling out farmers and the poor during their time in power.
With the creation of the state of Telangana, additions were made to ToRs of the 14th Finance Commission to make recommendations for the newly created states after the reorganisation of Andhra Pradesh.
A local court in Mumbai has accepted the police's closure report in the alleged Rs 25,000 crore scam at the Maharashtra State Cooperative Bank (MSCB), giving a clean chit to the late deputy chief minister Ajit Pawar and other accused.
The commission in its report, tabled in Parliament, recommended increase in share of states to 32 per cent of central tax proceeds from the current 30.5 per cent.
Kerala Chief Minister Pinarayi Vijayan accused Governor Rajendra Vishwanath Arlekar of omitting portions of the state cabinet-approved policy address, specifically criticizing the Union Government's fiscal policies and the pending status of state bills.
The forthcoming Budget could think of maintaining public capital expenditure at 3 per cent so that domestic resources are available for private investments, points out N R Bhanumurthy.
Nationalist Congress Party leader Sunetra Pawar on Tuesday took charge as Maharshtra's deputy chief minister, a fortnight after her husband Ajit Pawar died in an air crash.
India's state-level fiscal rules have improved headline deficits, but the gains are fragile and uneven with major states still grappling with high debt levels, a World Bank report submitted to the 16th Finance Commission (FC) said. According to the report, despite nearly two decades of adoption of fiscal responsibility laws (FRLs), debt levels have not converged.
The total expenditure on the MGNREGA programme, as per the revised estimates from 2025-26, was Rs 88,000 crore, while initially, a sum of Rs 86,000 crore was allocated.
The Lokpal, India's anti-corruption ombudsman, has been allocated Rs 30 crore in the Union Budget 2026-27. The Central Vigilance Commission (CVC) has been allocated Rs 54.56 crore.
The 12th Finance Commission on Monday held a meeting with leading economists and economic administrators in Chennai to elicit their views on current issues concerning inter-governmental resource transfers.\n\n\n\n
'We kept this Budget on a larger plank, rather than on one incident, however serious.'
With the Union Budget 2026, India's 74th, fast approaching, all eyes are once again on New Delhi's North Block as Finance Minister Nirmala Sitharaman is preparing to table it on February 1, 2026, marking her ninth Budget presentation in a row.
The government on Wednesday constituted the 13 Finance Commission, which would look into sharing of taxes between Union and the States, under the chairmanship of former finance secretary Vijay Kelkar.
Karnataka Governor Thaawarchand Gehlot has refused to address the joint sitting of the state legislature, prompting government intervention. The reasons are unclear, but follow similar incidents in other states.
The government on Wednesday put out the draft of a new policy that projects the country's power sector will need Rs 50 trillion in investments by 2032 and Rs 200 trillion by 2047, proposing ambitious reforms in generation, transmission and distribution.
This is the first Budget in my memory of Budgets over the last half a century which has embraced upfront, enthusiastically and emphatically, technology, modernity and fiscal sobriety, notes Shreekant Sambrani.
Over the years, India-EU ties have grown, and covered trade, investment, climate change, science and technology, space, digital, mobility, and connectivity.
Three laws passed in Parliament could boost central revenues, reshape GST cess flows, shift MGNREGA costs to states and create new budget headroom ahead of the 2026-2027 Union Budget, points out A K Bhattacharya.
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