Key recommendations in the first report (2020-21 period) include:   Devolution of taxes to states The share of states in the centre’s taxes is recommended to be decreased from 42% during the 2015-20 period to 41% for 2020-21. The 1% decrease is to provide for the newly formed union territories of Jammu and … Continue reading [Burning Issue] 15th Finance Commission and its recommendations (Part II)