Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
Popular Search: form 3cd :: ACCOUNTING STANDARDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TAX RATES - GOODS TAXABLE @ 4% :: VAT RATES :: due date for vat payment :: list of goods taxed at 4% :: VAT Audit :: cpt :: ACCOUNTING STANDARD :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: empanelment :: Central Excise rule to resale the machines to a new company :: articles on VAT and GST in India :: TDS
« News Headlines »
 ICAI to organise two-day international conference in Hyderabad
 Here's how to calculate tax payable on your capital gains
 Income Tax calculations for the financial year 2016-17
 CPE Events 17 October - 22 October 2016
 High Court raps I-T Department for wrong tax demand
  CBDT signs 5 advance pricing pacts with Indian taxpayers
 Finance ministry warns tax officials of action against GST protest
 Big changes for small units under GST
 Parliament’s winter session to begin on November 16 to expedite GST rollout
 Income-tax (27th Amendment) Rules, 2016 - 92/2016
 Announcement - Clarifications in Respect of MEF 2016-17

Higher tax share for states to offer financial flexibility
July, 24th 2015

The increased tax devolution to states will give them more financial flexibility to utilise untied resources, Parliament was informed today.

"By increasing the tax devolution from 32 per cent to 42 per cent, states have been given more financial flexibility to utilise the untied resources," Minister of State For Planning Rao Inderjit Singh said in a written reply to the Rajya Sabha.

The government in the Budget 2015-16 delinked eight centrally-sponsored schemes (CSS) from the Centre's support network, leaving it to states to take a call on their continuation after the 14th Finance Commission recommended higher resources for them, he said.
"These recommendations have come in support of the laudable objective of cooperative federalism emphasising the need and role of strong states in our federal polity.

"There is no doubt that states have to assume a much larger and more important role in nation's development," he said.

He said one-size-fits-all approach does "grave injustice" to the diversity of the country, and states time and again have stressed on necessity of more resources, greater freedom and stronger voice for them.

"... it is believed that each state government will make best and efficient use of untied funds available to them in different schemes transferred to them," Singh said.

In a separate reply to the Upper House, the Minister said that NITI Aayog is working on the details of SETU (Self-Employment and Talent Utilisation), which was announced by Finance Minister Arun Jaitley in the Budget Speech 2015-16.

SETU is slated to be a techno-financial, incubation and facilitation programme to support all aspects of start-up businesses and other self-employment activities, particularly in technology driven areas.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
E-catalogue online catalogue E-brochure online brochure online product catalogue online product catalogue e-catalogue Indi

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions