Finance Commission’ report for the financial year 2020-21

FINANCE COMMISSION REPORT   For: Preliminary & Mains Topics covered: An interim report by Finance Commission for the FY 2020-21   News Flash The 15th Finance Commission submitted its interim report on devolution formula for the financial year 2020-21 to President of India. The Commission headed by N K Singh.   Devolution Formula The devolution formula spells out how the Centre plans to share the taxes collected by it with the States. Since the formula…

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