Finance panel report to be tabled in parliament -Governance Now

Finance panel report to be tabled in parliament

Report lays down the roadmap for tax-sharing between centre and states for 2010-15

GN Bureau | February 11, 2010

The cabinet on Thursday considered the recommendations of 13th Finance Commission and decided to place the report before parliament during the budget session.

The report lays down the roadmap for sharing of taxes between the centre and states for the period 2010-15.

The recommendations of the Commission are based on detailed assessment of the financial position of the central and state governments and wide consultations with stakeholders.

The cabinet also gave its nod to Air Services Agreement between India and Nepal.

The Cabinet Committee on Economic Affairs approved 27 percent OBC reservation in PGI, Chandigarh. This was announced by Home Minister P. Chidambaram after the cabinet meeting in New Delhi.

From now onwards the Foreign investment proposals involving total foreign equity inflow of more than Rs.1,200 crore would be placed before cabinet.

"The recommendation of Foreign Investment Promotion Board (FIPB) on proposals with total foreign equity inflow of and below Rs.1,200 crore will be considered by the finance minister for approval," Chidambaram told reporters.

The move will further liberalise norms and expedite foreign investment inflow into the country.

Earlier, foreign investment of up to Rs.600 crore were approved by the finance minister and anything more than that were put up to the CEA for approval.

The finance minister will be empowered to clear the rest of the approvals on recommendations of the Foreign Investment Promotion Board.

Comments

Other News

Days of Reading: Upendra Baxi recalls works that shaped his youth

Of Law and Life Upendra Baxi in Conversation with Arvind Narrain, Lawrence Liang, Sitharamam Kakarala, and Sruti Chaganti Orient BlackSwan, Rs 2,310

Voting by tribal communities blossoms as ECI’s efforts bear fruit

The efforts made by the Election Commission of India (ECI), over last two years, for inclusion of Particularly Vulnerable Tribal Groups (PVTG) communities and other tribal groups in the electoral process have borne fruit with scenes of tribal groups in various states/UTs participating enthusiastically in t

GST revenue for April 2024 at a new high

The gross Goods and Services Tax (GST) collections hit a record high in April 2024 at ₹2.10 lakh crore. This represents a significant 12.4% year-on-year growth, driven by a strong increase in domestic transactions (up 13.4%) and imports (up 8.3%). After accounting for refunds, the net GST

First Magahi novel presents a glimpse of Bihar bureaucracy a century ago

Fool Bahadur By Jayanath Pati (Translated by Abhay K.) Penguin Modern Classics, 112 pages, Rs 250 “Bab

Are EVs empowering India`s Green Transition?

Against the backdrop of the $3.5 billion Production-Linked Incentive (PLI) scheme launched by the Government of India, sales of Electric Vehicles (EVs) are expected to grow at a CAGR of 35% by 2032. It is crucial to take into account the fact that 86% of EV sales in India were under the price bracket of $2