A majority of states have recommended that the Centre increase their share in tax revenue distribution to 50 per cent, Arvind Panagariya, Chairman of the 16th Finance Commission, said on Wednesday.Currently, states receive 41 per cent of the divisible tax pool, while the remaining 59 per cent is retained by the Centre. Addressing a press…
Arvind Panagariya (File photo) NEW DELHI: India’s aim to emerge as a developed country by 2047 is a ” realisable ambition”, said Arvind Panagariya, chairman of the 16th Finance Commission, while also stressing that the country’s per capita income would need to grow at 7.3% in dollar terms to achieve the threshold of $14,000 over…
NEW DELHI: India can turn the potential threat of reciprocal tariffs from the US into its favour if it can use the situation to negotiate mutual tariff reductions, said the chairman of the 16th finance commission Arvind Panagariya on Saturday.“We have a very good opportunity to do a win-win bargain. So we can really turn…