01-Feb-2026      12:14

Govt accepts recommendations of the 16th Finance Commission to retain the vertical share of tax devolution to states at 41%, says FM

The government has accepted the recommendations of the 16th Finance Commission, including retaining the vertical devolution share at 41%, Finance Minister Nirmala Sitharaman says in her Budget speech. 'I have provided Rs 1.4 lakh crore to states for 2026-27 as Finance Commission grants,' she says, adding that these include rural and urban local body grants and disaster management grants.

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