https://www.taxtmi.com/news?id=69446 The Government accepted the 16th Finance Commission's recommendation to retain the vertical share of devolution at 41 percent and has allocated Rs.1.4 lakh crore to States for FY 2026-27 as Finance Commission Grants, including Rural and Urban Local Body and Disaster Management Grants; the Commission's report was submitted to the President and will be laid in Parliament with an explanatory memorandum and action taken statement under Article 281. en-us Sun, 01 Feb 2026 14:25:53 +0530 Sun, 01 Feb 2026 14:25:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=69446 The Government accepted the 16th Finance Commission's recommendation to retain the vertical share of devolution at 41 percent and has allocated Rs.1.4 lakh crore to States for FY 2026-27 as Finance Commission Grants, including Rural and Urban Local Body and Disaster Management Grants; the Commission's report was submitted to the President and will be laid in Parliament with an explanatory memorandum and action taken statement under Article 281. News - Sun, 01 Feb 2026 14:25:53 +0530 https://www.taxtmi.com/news?id=69446