sunday, february 21, 2016 (page 16) daily excelsior, … · gujar colony, bye-pass, jammu —...
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NEW DELHI, Feb 20:
As much as Rs 4.12 lakhcrore has been released to statesby way of tax devolution so farthis fiscal and more funds will begiven in three installments tillMarch-end, Government saidtoday.
The Centre accepted the rec-ommendations of the 14thFinance Commission (FFC)under which there was “a phe-nomenal increase in the taxdevolution to the states due toincrease of share in the divisiblepool of taxes from 32 per cent to42 per cent,” Finance SecretaryRatan P Watal said in a state-
ment.As per its commitment in the
Union Budget for 2015-16, the
Ministry of Finance made a pro-vision of Rs 5.24 lakh croreunder devolution of taxes to
states as compared to the alloca-tion of Rs 3.38 lakh crore in2014-15 (RE).(PTI)
SUNDAY, FEBRUARY 21, 2016 (PAGE 16) DAILY EXCELSIOR, JAMMU
Centre releases Rs 4 lakh cr to States; rest by March end
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