Fiscal Roadmap: Finance Commission Submits Report for 2026-31; Formula for Centre-State Tax Share Sent to President Murmu
India’s fiscal architecture is set for a significant transformation as the Finance Commission has formally submitted its report for the period 2026-31, outlining the roadmap for revenue distribution between the Centre and states. The report, which has been sent to President Droupadi Murmu, includes the much-anticipated formula for the division of tax revenues, recommendations on…