arihant monthly current affairs
magazine subscription Published this articles page no 113 Senior
Citizens were ovided relief in fili of income tax
vertically between the Centre and states and horizontally
among all states. Fifteenth Finance Commission was additionally tasked with reviewing and commenting on the design of fiscal principles for various grants
that are typically provided alongside revenue shares. It was also asked to consider performance-based incentives to support and motivate the efforts of State and/or
local governments-the appropriate level of government-in a variety of policy areas. Another unique ToR given to
it included recommending funding mechanism for defence and internal security. arihant
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