India, Feb. 1 -- The Government of India has issued a release:
The Government has accepted the recommendation of the 16th Finance Commission to retain the vertical share of devolution at 41 percent.
Presenting the Union Budget 2026-27 in Parliament today, Union Minister of Finance & Corporate Affairs, Smt. Nirmala Sitharaman said, "The Government has accepted the recommendation of the Commission to retain the vertical share of devolution at 41 percent. As recommended by the Commission, I have provided Rs.1.4 lakh crore to the States for the FY 2026-27 as Finance Commission Grants. These include Rural and Urban Local Body and Disaster Management Grants."
She further said that the Commission submitted its report to the President on 17th No...