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Budget 2020: Fifteenth Finance Commission Retains Devolution Formula With Some Adjustments

The government presented the budget for 2020-21 on Saturday

BQ Desk, Nikunj Ohri
The NK Singh-led 15th Finance Commission is scheduled to finalise its report by October 30 this year. (Photographer: Nelson Ching/Bloomberg)

The Fifteenth Finance Commission, in its interim recommendations, has suggested continuing with a 42 percent devolution of divisible taxes to states. It has, however, recommended some adjustments, including a carve out for Jammu and Kashmir and Ladakh.

Also Read: Are State Government Finances In For A Double Whammy?

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