NEW DELHI: The 15th Finance Commission on Saturday recommended 41 per cent share in the divisible pool of taxes for states and 1 per cent for the newly created Union territories of Jammu & Kashmir and Ladakh for the financial year 2020-21, thus retaining the devolution formula of the earlier Commission.
The 14th Commission had recommended the share of states at 42 per cent in the divisible pool of taxes.
In her Budget Speech, Finance Minister Nirmala Sitharaman said the commission has given its first report pertaining to 2020-21. (AGENCIES)
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