New Delhi, April 24 (IANS) Prime Minister Narendra Modi on Friday said dedication to public service and service to the nation by elected representatives and functionaries of Panchayati Raj and Rural Local Bodies is truly inspiring for everyone. In a message read out at a national event to observe National Panchayati Raj Day in New Delhi, marking 33 years of the 73rd Constitutional Amendment Act, the Prime Minister said active participation of women and youth can make panchayats even more effe…
Latest Sixteenth Finance Commission News & Updates
Bhubaneswar, March 31 (IANS) The Odisha Legislative Assembly on Tuesday cleared the Appropriation Bill for the 2026–27 financial year, even as opposition MLAs staged a walkout. With its passage, the government obtained the legal authority to withdraw and spend the budgetary allocation of ₹3.10 lakh crore from the Consolidated Fund of the state to meet its expenditure during the financial year 2026-27.Participating in discussions on the bill, CM Majhi stated that the total budget estima…
Bengaluru, March 6 (IANS) Karnataka Chief Minister Siddaramaiah on Friday said the rationalisation of Goods and Services Tax (GST) rates by the Central Government has adversely affected the state’s revenue collections, leading to a significant shortfall in the current financial year.Presenting the state Budget for 2026–27, Siddaramaiah said the rate changes are expected to result in an estimated revenue shortfall of about Rs 10,000 crore for the state in the current financial year, while a sho…
New Delhi, Feb 1 (IANS) The Union Budget for 2026-27 tabled by Finance Minister Nirmala Sitharaman in Parliament on Sunday estimates the Gross Tax Revenue (GTR) at Rs 44.04 lakh crore, which represents a growth of 8.0 per cent over the revised estimate (RE) 2025-26.Direct Taxes, which include corporate tax and personal income tax, estimated at Rs 26.97 lakh crore, are the major contributors, constituting as much as 61.2 per cent of total gross tax revenue. Indirect taxes are estimated at Rs 17.0…