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Advisory Council prepares ground for Fin Comm's final report
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SME Times News Bureau | 13 Feb, 2020
As it looks forward to present its final report for financial years
2021-26, the Advisory Council to the 15th Finance Commission met here on
Thursday to take views on its report for the year 2020-21 and the
formula for horizontal devolution of Central taxes and other
recommendations contained in the report.
The sixth meeting of the
Council also noted views on the outlook for nominal GDP growth for the
period 2021-22 to 2025-26, tax buoyancy and other macro-economic
parameters relevant for the commission for the aforesaid period.
While
discussing about the framework for vertical and horizontal devolution
of taxes, the methodological innovations made in the report were
favourably commented upon by the council.
The options for nominal
GDP growth and resource mobilisation, as well as the downsides and
upsides to different possibilities therein were discussed in detail,
particularly in the light of emerging global trends and patterns
discernible in high-frequency, domestic indicators.
The
centrality of strengthening the administration and technology platform
of GST in ensuring fiscal balance of the Centre and the States was also
emphasised.
Apart from the the bchairman, the meeting was
attended by economists and experts such as Indira Rajaraman, Arvind
Virmani, M. Govinda Rao, Prachi Mishra, Sudipto Mundle and Dr
Krishnamurthy Subramanian. The meeting was also attended by bureaucrats
and scholars including Bibek Debroy, Ratan P. Watal, Amitabh Kant, Atanu
Chakraborty, Abhijit Sen, and Ajit Mishra.
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
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66.20
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64.50 |
UK Pound
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87.50
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84.65 |
Euro
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78.25
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75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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