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Release of Taxes from Central Pool

Published on May 09, 2022
Current Context: The Central Government has released 7813.42 crore rupees as a part of the central pool of taxes.
Release of Taxes from Central Pool
  • As recommended by the Finance committee, the central government has released this sum as a grant against the Revenue Deficit.
  • As per the 15th finance commission report, the states have a share of 41 % in the central pool of taxes. 1% tax has been kept separate for the development of UT Jammu and Kashmir and UT of Ladakh.
  • The finance commission has called for devolution of 86,201 crore rupees for meeting Revenue Deficit grants. Under Article 275, the central government is mandated to issue money for R.D Grants.

Question:

Q.1 Which of the following is not a criterion set by the 15th finance commission for the issue of money from the central pool of taxes?
a. Income distance
b. Population
c. Per capita income
d. Taxation effort
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