In what can put West Bengal’s Left Front government in an uncomfortable situation, Union finance minister Pranab Mukherjee on Monday said the state might land in a debt trap
With stimulus measures forcing the government to go way off its self-imposed fiscal discipline targets, the 13th Finance Commission has laid down new targets for fiscal and revenue deficits.
The government today said it has accepted recommendations of the 13th Finance Commission, which called for greater share of states in central tax proceeds, despite strains on its finances.
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The 13th Finance Commission today submitted its report to President Pratibha Patil on devolution of central tax receipts between the Union and the state governments.
The report of the Finance
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