16th Finance Commission rewards economic performance

TL;DR: The 16th Finance Commission marks a shift toward rewarding economic performance, benefiting southern States through a new GDP-based criterion, while some larger States see reduced shares. It also increased funding for local bodies and disaster management, including adding heatwaves and lightning as notified disasters, thereby reflecting changing priorities toward growth, local governance, and climate resilience. [...] The post 41% Tax Share Retained as 16th Finance Commission Rewards Economic Performance appeared first on FACTLY.