As the economic slowdown takes a toll on the central government's tax revenues, state governments are being asked to share a bigger burden of the fiscal slippages. The share of states in the central tax pool is set to decline by 13.8 per cent year-on-year (YoY) during fiscal year 2019-20 (FY20).
This will be biggest fall in states' share in central taxes in 50 years, according to the data from the Reserve Bank of India. The states’ revenue from the central tax pool was up 25.8 per cent YoY in FY19, while it was down 0.4 per cent YoY in FY18. The current fiscal year will be only ...
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First Published: Sun, February 02 2020. 23:28 IST
