The share of States in taxes grew by 25.2% during April-November 2017, much higher than the growth in net tax revenue (to centre), which is what the Centre has at its disposal to spend from its own taxes.
Disinvestment proceeds and non-tax revenues have shown contrasting growth patterns, the former reinforcing the revenue position and the latter dampening it.
The growth in direct tax collections of the Centre kept pace with the previous year.
The indirect tax collections in the previous two years were buoyed by mobilization of additional resources (ARM), prudently apportioning the petroleum price advantage into pass-through to the ....
