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Tax Reforms

Tax contribution by States needs to be revisited

Note4Students

From UPSC perspective, the following things are important :

Prelims level: 16th Finance Commission

Mains level: inclusion of tax contribution, particularly from Goods and Services Tax (GST) and petroleum consumption, as a significant efficiency indicator in the distribution formula used by Finance Commissions to allocate Union tax revenue among states.

Climate Change Impact on India and World – International Reports, Key Observations, etc.

To combat climate challenges, the Finance Commission needs to step up

Note4Students

From UPSC perspective, the following things are important :

Prelims level: National Determined Contributions (NDCs):

Mains level: 16th Finance Commission should prioritize incorporating climate vulnerability and emission intensity into tax devolution formulas

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