Maharashtra Seeks Bigger Slice of India's Tax Pie
The Maharashtra government is pushing for an increase in its share of India's divisible tax pool from 41% to 50%, as articulated in a memorandum to the 16th Finance Commission. Highlighting crucial developmental needs, the state urges reforms in tax devolution criteria and calls for greater fiscal support.
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Maharashtra has urged an increase in its share from India's divisible tax pool from 41% to 50%. The state's leadership, including CM Devendra Fadnavis, presented a memorandum to the 16th Finance Commission detailing the request.
The memorandum proposes integrating cesses and surcharges with principal taxes and incorporating the Union's non-tax revenue into the pool. It also suggests new tax devolution criteria focusing on 'Sustainable Development' and 'States' GDP Contribution.'
Maharashtra seeks Rs 1,28,231 crore in special grants for major projects, along with higher local body aid and increased State Disaster Response Fund allocation. The Finance Commission acknowledged the state's fiscal management and growth contributions.
(With inputs from agencies.)
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