Business
Fiscal roadmap: Finance Commission submits report for 2026-31; formula for Centre-state tax share sent to President Murmu – The Times of India
The 16th Finance Commission on Monday submitted its report for the five-year period 2026-31 to President Droupadi Murmu, marking a key step in finalising the formula that will determine how central taxes are shared with states, PTI reported.The panel, chaired by Arvind Panagariya, had been granted a one-month extension from its original October 31 deadline. “Members of the 16th Finance Commission, led by its Chairman, Dr Arvind Panagariya, called on President Droupadi Murmu and submitted the Commission’s report for 2026-31,” Rashtrapati Bhavan said in a post on X.Mandated to recommend the devolution formula and grants-in-aid beginning 2026-27, the commission travelled across all states and Union Territories before finalising its views on tax sharing, revenue augmentation and fiscal needs.
The panel includes full-time members Annie George Mathew and Manoj Panda, while SBI Group Chief Economic Advisor Soumya Kanti Ghosh and RBI Deputy Governor T. Rabi Sankar serve as part-time members.Along with tax devolution, the commission has examined the framework for financing disaster management, reviewing the funds created under the Disaster Management Act, 2005.Set up on December 31, 2023, the constitutional body succeeds the 15th Finance Commission headed by N.K. Singh, which had recommended that states receive 41% of the divisible pool between 2021-22 and 2025-26 — the same share proposed earlier by the 14th Finance Commission.According to Budget 2025-26 estimates, the Centre is expected to transfer Rs 14.22 lakh crore to states as their tax share out of a budgeted Rs 42.70 lakh crore in total tax receipts.Successive commissions have relied on weighted criteria such as population, area, income distance, demographic performance, fiscal effort and forest cover to determine state shares — an issue that has often triggered friction between the Centre and Opposition-ruled states. Southern states, in particular, have objected to population-linked weightage, arguing that it disadvantages them for achieving lower population growth.For 2021-26, the 15th Finance Commission had assigned 15% weightage to population, 15% to area, 12.5% to demographic performance, 10% to forest cover and ecology, and 2.5% to tax and fiscal effort.
Business
EV adoptions gathers pace in 2025: Sales hit 2.3 million units; UP, Maharashtra lead sales – The Times of India
India sold were at 2.3 million units of electric vehicle in 2025, making up 8 per cent of all new vehicle registrations, according to a new report by the India Energy Storage Alliance, based on Vahan Portal data, cited by ANI. This boost was driven by incentives offered by the government and festive seasons. The majority portion of the sales were two-wheelers at 1.28 million units.The total registrations recorded in the overall passenger car market in the year 2025 stood at 28.2 million. Two-wheelers marked the most registrations 20 million registrations, while passenger cars were at 4.4 million and agricultural vehicles recorded 1.06 million. The recorded sales rose steadily throughout the year though slightly improved in the festival seasons due to GST benefits.Electric two-wheelers were the stars of the EV market, grabbing 57 per cent of sales. Three-wheelers came second with 0.8 million units (35 per cent), while four-wheelers logged 175,000 units. The report spotted good progress in electric delivery vehicles, especially in smaller commercial segments.Uttar Pradesh was at the forefront in this, with 400,000 units sold, taking an 18 percent market share in India’s EV segment. Maharashtra followed, with 266,000 units sold, contributing 12 percent to the segment, followed by Karnataka, with 200,000 units sold, contributing 9 percent to the market. The three accounted for over 40 percent in the country’s EV sales.Some smaller states recorded a very encouraging uptake of EVs. Delhi, Kerala, and Goa were able to reach an EV-to-ICE ratio of 14 percent, 12 percent, and 11 percent respectively. Meanwhile, states from the Northeast, Tripura, and Assam, achieved ratios of 18 percent and 14 percent, respectively.A major achievement was recorded in the three-wheeler segment, which attained a market penetration of 32 per cent. The government also created a record with their biggest ever order of electric buses—10,900 unit—valued at a massive Rs 10,900 crore through the PM E-DRIVE scheme.The report also stated that that while smaller vehicles led EV adoption, government efforts to electrify larger commercial vehicles and develop charging infrastructure were setting up India’s EV sector for continued growth beyond 2025.
Business
PTA warns consumers against fake calls and UAN numbers, reason revealed – SUCH TV
Pakistan Telecommunication Authority has warned users against fake calls and UAN numbers.
A video message released by PTA states that scammers are impersonating PTA, FIA, and banks to steal your personal and financial information. No government agency will ever ask you for OTP, PIN, identity card or biometrics over a call or message. Mobile users should be vigilant and verify only through official channels.
It should be noted that earlier, PTA had warned users in a statement that using a SIM registered in the name of another person is a violation of relevant regulations.
The PTA had stressed that the full responsibility for any misuse of the SIM will lie with the registered user, therefore, users should ensure responsible use of their SIMs and mobile connections at all times. Registered users will be held individually accountable for all calls, messages and data usage made through their SIMs or devices.
The PTA further appealed to users to abide by all relevant laws and regulations, warning that action will be taken in case of violation.
Business
Budget 2026: CII pitches demand-led disinvestment plan; proposes four-step privatisation roadmap – The Times of India
The Confederation of Indian Industry (CII) suggested a four-fold privatisation process in their recommendations on the Union Budget 2026-27. They called for faster and more predictable disinvestment. The industry body claimed that a calibrated privatisation approach would help sustain capital expenditure and fund development priorities, particularly in sectors where private participation can improve efficiency, technology adoption, and competitiveness. CII Director General Chandrajit Banerjee highlighted the role of private enterprise in India’s growth. “A forward-looking privatisation policy, aligned with the vision of Viksit Bharat, will enable the government to focus on its core functions while empowering the private sector to accelerate industrial transformation and job creation,” he said, as quoted by ANI. To accelerate the government’s exit from non-strategic Public Sector Enterprises (PSEs), CII outlined a four-pronged strategy. First, CII recommended adopting a demand-led approach for selecting PSEs for privatisation. Contrary to short-listing entities and then checking the appetite for them, it was proposed that government needs to start by measuring market interest for a larger list of entities and short-list those with better interest and valuation. Second, the industry body called for announcing a rolling three-year privatisation pipeline in advance. According to CII, greater visibility would give investors time to plan, deepen participation, and improve price discovery. Third, CII proposed setting up a dedicated institutional mechanism to oversee privatisation. This would include a ministerial board for strategic direction, an advisory panel of industry and legal experts, and a professional execution team to handle due diligence, market engagement, and regulatory coordination. Fourth, acknowledging that complete privatisation is complex and time-consuming, CII suggested a calibrated disinvestment route as an interim measure. The government could initially reduce its stake in listed PSEs to 51 per cent, retaining management control, and later bring it down further to between 33 per cent and 26 per cent. CII estimated that lowering government ownership to 51 per cent in 78 listed PSEs could unlock nearly Rs 10 lakh crore. In the first two years, disinvestment in 55 PSEs could raise about Rs 4.6 lakh crore, followed by Rs 5.4 lakh crore from 23 additional enterprises. “A calibrated reduction of government stake balances strategic control with value creation,” Banerjee said, adding that the proceeds could fund healthcare, education, green infrastructure, and fiscal consolidation while maintaining control in strategic sectors. The Union Budget for 2026–27 will be presented on February 1.
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