Search results
Results from the WOW.Com Content Network
The Finance Commissions (IAST: Vitta Āyoga) are commissions periodically constituted by the President of India under Article 280 of the Indian Constitution to define the financial relations between the central government of India and the individual state governments.
Articles 245–255 on Distribution of Legislative Powers. The Constitution provides for a three-fold distribution of legislative subjects between the Union and the states, viz., List-I (the Union List), List-II (the State List) and List-III (the Concurrent List) in the Seventh Schedule: (i) The Parliament has exclusive powers to make laws with respect to any of the matters enumerated in the ...
The resources of the union government and state government for five years starting from 1 April 2005 on the basis of the total tax and non-tax that it will likely to receive by the end of 2003-04. The demand of the resources by the central government, in particular the need of expenditure on civil administration, internal security, defence ...
The Constitution of India establishes the structure of the Indian government, including the relationship between the federal government and state governments. Part XI of the Indian constitution specifies the distribution of legislative, administrative and executive powers between the union government and the States of India. [1]
A calamity relief fund to be constituted for each state to which contribution is to be made in the ratio 75:25 (centre: state). Debt Relief – The Commission recommended that the Reserve Bank of India may work out a formula for amortization of the states’ market borrowings. From 1990 to 1991 the direct central loans for states’ plans ...
The tax devolution from the Centre to the State should not exceed 37.5% of total Centre’s revenues this should be inclusive of the Central taxes/duties to States and grants-in-aid to States. The Commission recommended that each State be given a share as specified the net proceeds of all shareable union taxes and duties except the expenditure ...
On account of Tax Sharing between the Centre and the State and allocation of Income Tax and Central Excise Duties; Under Article 275 of the Indian Constitution, Grants-in-Aid to States in need of assistance, other than the sums specified in the provisos to Clause 1 of article 275 With regard to the requirements of third five-year plan
Grants in Lieu of tax on railway passenger fare – It has boldly defended the case of the state government in regard to their claim on the tax on railway fair. The compensatory grant which replaced the tax was increased to Rs. 95 crores; Grants in Aid – They have been made more flexible.