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15th Finance Commission Fund allocation
April 25 , 2020
1728 days
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- The Union Finance Ministry has released Rs 46,038 crore to states as their share in central taxes and duties for April.
- The devolution of taxes has been done based on recommendations of Fifteenth Finance Commission.
- The calculation of net proceeds of shareable taxes has been kept unchanged as per Budget 2020-21.
- In its interim report for FY21, the 15th Finance Commission has reduced the share of States in the divisible pool of Central taxes by one percentage point to 41 per cent.
- It was because of the conversion of the erstwhile State of Jammu and Kashmir into two Union territories.
- It assigned 15 per cent weight to the population of a State, down from the 17.5 per cent allocated by the 14th Finance Commission.
- But it raised the weight under demographic performance from 10 per cent to 12.5 per cent.
- The highest share of Central taxes for April has gone to Uttar Pradesh and followed by Bihar.
- Goa and Sikkim have got the least from Central pool of taxes.
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