Headed by former RBI Governor Y V Reddy, the 14th Finance Commission had recommended a record increase in the states’ share in the Union taxes. NEW DELHI: Finance Commission chairman N K Singh today said the panel will ascertain whether increasing the share of Union taxes to states to 42 per cent, along with rationalisation with Centrally Sponsored Schemes, has served its purpose. The 15th Finance Commission has been asked to recommend, among other things, a road map for sound management of government finances. “We will also look at whether the much higher devolution…
Read MoreWill see if more devolution to states served its purpose: Finance Commission
