https://www.taxtmi.com/news?id=47474 Karnataka sought a pro-growth reconfiguration of tax devolution for the 16th Finance Commission, attributing a fall in its central tax share and denial of special grants to the high weight given to the income-distance criterion. It proposed reducing income-distance weight by twenty percentage points in favor of fiscal contribution, and discontinuing Revenue Deficit Grants in current form by redistributing the equivalent quantum among all states via the horizontal devolution formula. en-us Tue, 24 Jun 2025 18:46:03 +0530 Tue, 24 Jun 2025 18:46:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=47474 Karnataka sought a pro-growth reconfiguration of tax devolution for the 16th Finance Commission, attributing a fall in its central tax share and denial of special grants to the high weight given to the income-distance criterion. It proposed reducing income-distance weight by twenty percentage points in favor of fiscal contribution, and discontinuing Revenue Deficit Grants in current form by redistributing the equivalent quantum among all states via the horizontal devolution formula. News - Tue, 24 Jun 2025 18:46:03 +0530 https://www.taxtmi.com/news?id=47474