Diabytes
14th Finance Commission News
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New Delhi: Chief Economic Adviser Arvind Subramanian today expressed hope that states will show "prudence" and contain their fiscal deficit at 3 percent of the GSDP.
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The government on Wednesday approved fiscal deficit target of 3 percent for states, as recommended by the 14th Finance Commission for the 2015-20 period.
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Bihar Chief Minister Nitish Kumar and BJP leader Sushil Kumar Modi on Tuesday locked horns in the Legislative Council over recommendations of the 14th Finance Commission on devolution of tax revenue and how the target of building toilets will be met.
The Centre has asked states to furnish information on their finances impacted due to recent cancellation of coal block allocations and penalties imposed by the Supreme Court.
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