States Strengthen Fiscal Autonomy as Own Tax Revenue Surpasses Central Transfers
A Shift in Fiscal Composition In a significant milestone for India’s federal fiscal structure, the third edition of the ‘State Finances 2024-25’ report, released Tuesday by Comptroller and Auditor General (CAG) K. Sanjay Murthy, reveals that states‘ own tax revenues now constitute more than half of their total revenue receipts. This development marks a pivotal…