India, Feb. 1 -- Finance Minister Nirmala Sitharaman on Sunday tabled the 16th Finance Commission report in the Lok Sabha, outlining the framework for tax revenue devolution between the Centre and states for the 2026–2031 period.
The Finance Commission, constituted under the Constitution, recommends the formula for sharing central tax revenues with states to ensure balanced fiscal distribution.
However, cesses and surcharges imposed by the Centre will continue to remain outside the divisible pool, and therefore are not shared with the states.
Published by HT Digital Content Services with permission from Dion Global Solutions Limited....