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Under the 15th Finance Commission, the Centre’s contribution to the SDRF was fixed at 75%.
Kerala and most other states wanted the divisible tax pool (income tax and excise duties) to be shared 50-50 between the Union and states.
26 civic bodies across the country have raised ₹ 3,783.9 crore through municipal bonds.
The 16th Finance Commission, chaired by former Niti Aayog vice-chairman Arvind Panagariya, was constituted on December 31, 2023.
Against a current year’s revised budget size of ₹1.92 lakh crore, the 26-27 budget has been pegged at around ₹2.40 lakh crore.
The report contains recommendations for the 2026–27 financial year.
The increase is in line with the formula recommended by the 7th Central Pay Commission.
Balagopal submitted a supplementary memorandum detailing the potential impact.
The Finance Commission is a constitutional body to provide suggestions on centre-state financial relations. The Finance Commission is constituted by the President under Article 280 of the Constitution.
The 16th Finance Commission headed by Arvind Panagariya was on a three-day visit to Kerala in December 2024 as part of preparing the study report
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