Mumbai, July 10 (IANS) The Sixth Maharashtra Finance Commission (FC), chaired by Dr Nitin Kareer, tabled in the Maharashtra Legislature on Friday, has recommended an annual devolution of 27.3 per cent of the State’s Own Tax Revenue (SOTR) to local bodies, marking a strategic shift towards financial decentralisation and structural reform. The existing 26.3 per cent devolution rate will be increased by an additional 1.0 per cent of SOTR. This combined fund will be split, with 55 per cent allocated…
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