In which of the following year, all tax revenues of Centre have become shareable among the Centre and…
Following the recommendations of the Tenth Finance Commission for an Alternative Scheme of Devolution, Parliament enacted the Constitution (Eightieth Amendment) Act in 2000…
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In which of the following year, all tax revenues of Centre have become shareable among the Centre and States ?
Answer and explanation
Correct answer A
Following the recommendations of the Tenth Finance Commission for an Alternative Scheme of Devolution, Parliament enacted the Constitution (Eightieth Amendment) Act in 2000 AD. This amendment amended Article 270 of the Constitution so that all central taxes (rather than only income tax and union excise duties) were pooled into a single divisible pool to be shared between the Centre and the States. Thus, (2000 AD) is correct.
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UGC NET Economics