Government approves new finance panel to suggest sharing of federal taxes
India sets up a Finance Commission to suggest the formula for sharing of taxes between the federal and state governments, and make recommendations on public finances.
![Government approves new finance panel to suggest sharing of federal taxes](https://cdn.zeebiz.com/sites/default/files/2023/11/29/270726-fotojet-44.jpg?im=FitAndFill=(1200,900))
The federal cabinet has approved the so-called terms of reference for the 16th Finance Commission, Information and Broadcasting Minister Anurag Thakur said on Wednesday. Image Source: Reuters