India, June 14 -- States that had sought a higher share of the Union government's divisible pool of tax revenue are likely to be disappointed when the Sixteenth Finance Commission tables its recommendations for the next five financial years. The commission is expected to recommend retaining states' share at 41%, two people aware of the matter said. Arvind Panagariya, chairman of the Sixteenth Finance Commission, said last week that at least 22-23 of India's 28 states had made a case for increasing their share in the divisible pool of tax collections from 41% to 50%. P19
Published by HT Digital Content Services with permission from Hindustan Times....