PRS published a Blog of the 15th Finance Commission which made recommendations for FY 2020-21.
- The share of states in the centre’s taxes is recommended to be decreased from 42% during the 2015-20 period to 41% for 2020-21. The 1% decrease is to provide for the newly formed union territories of Jammu and Kashmir, and Ladakh from the resources of the central government.
- Since the criteria has changed, the individual share of states in the divisible pool will change correspondingly.
- The table below shows how the Finance Commission’s criteria to determine each State's share in central taxes and the weight assigned to them have changed over time.
This week, Kerala will present its Budget on the 7th. The chart below lists the dates of Budget presentations of other States that are coming up.
Day 3 of Budget Session
- Rajya Sabha adjourned its proceedings due to disruptions. Before adjournment, the report by Ad-hoc Committee (Chair: Mr. Jairam Ramesh) on the issue of child pornography and its effect on society was tabled. The House also announced the time allotment of the government’s legislative business for the week. The government business will include consideration of the Insolvency and Bankruptcy Code (Second Amendment) Bill, 2019 and the Minerals Laws (Amendment) Bill, 2020, replacing Ordinances.
- In Lok Sabha, during Question Hour, the House discussed low consumption by Pradhan Mantri Ujjwala Yojana (PMUY) beneficiaries, government agreement with the Asian Development Bank (ADB) and skill development in Maharashtra. After Question Hour, the House took up the Motion of Thanks on the President’s Address.