Arun Jaitley: No inherent bias in 15th Finance Commission's terms of reference
Arun Jaitley was responding to concerns expressed by Kerala, Karnataka and Andhra Pradesh as well as the Congress-ruled union territory of Puducherry over the ToR of the Commission. In a first-of-its-kind initiative, the finance ministers of south Indian states at a conclave at Thiruvananthapuram said that ToR was against the principles of federalism enshrined in the Constitution and also would result in revenue loss to the performing states
The 14th Finance Commission had allocated a 42 per cent share in the central taxes to the States more than ever before, Arun Jaitley said. Image source: PTI