Chennai, Aug. 7 -- Tamil Nadu Assembly on Friday passed the resolution urging the Centre for equitable and fair devolution of taxes, invoking the principle of fiscal federalism.

Finance Minister N Marie Wilson moved the government's resolution and argued that a "fair and equitable system of financial devolution is essential for States to effectively discharge their responsibilities."

The resolution asks the Centre to ensure that the State receives its due share of financial devolution from the taxes contributed to the Union Government, consistent with the constitutional principles of fiscal federalism, equity and fairness.

The resolution also urges the Centre to adopt a "transparent, objective and equitable methodology" for the devolut...