The share of states in the net proceeds of the shareable
Central taxes should be 32%. This is 1.5 percentage-points higher than the recommendation of the
12th Commission.
Revenue deficit to be progressively reduced and eliminated, followed by revenue surplus by 2013–2014.
Both centre and states should conclude 'Grand Bargain' to implement the model Goods and Services Act (GST).(Task force recommended single positive GST rate of 12% comprising 5% CGST and 7% SGST ) To incentivise the states, the commission recommended a sanction of the grant of Rs500 billion.
Initiatives to reduce the number of Central Sponsored Schemes (CSS) and to restore the predominance of formula-based plan grants.
States need to address the problem of losses in the power sector in time bound manner.
References
^"S.O. 1937(E)". The Gazette of India, Extraordinary. Part II Sec 3 (ii): 4. 14 November 2007.
The share of states in the net proceeds of the shareable
Central taxes should be 32%. This is 1.5 percentage-points higher than the recommendation of the
12th Commission.
Revenue deficit to be progressively reduced and eliminated, followed by revenue surplus by 2013–2014.
Both centre and states should conclude 'Grand Bargain' to implement the model Goods and Services Act (GST).(Task force recommended single positive GST rate of 12% comprising 5% CGST and 7% SGST ) To incentivise the states, the commission recommended a sanction of the grant of Rs500 billion.
Initiatives to reduce the number of Central Sponsored Schemes (CSS) and to restore the predominance of formula-based plan grants.
States need to address the problem of losses in the power sector in time bound manner.
References
^"S.O. 1937(E)". The Gazette of India, Extraordinary. Part II Sec 3 (ii): 4. 14 November 2007.