States expect higher tax devolution from Centre; to borrow less in FY23: Icra - Economic Times

The central tax devolution is likely to rise to Rs 9.3 lakh crore in FY23 from Rs 8.8 lakh crore in FY22 and from Rs 8.2 lakh crore estimated in the FY23 budget. The FY22 devolution was higher than the revised estimate of Rs 7.4 lakh crore and 2.8 per cent lo…

Tax devolution by the central government is likely to exceed the budget estimate by at least Rs 1.1 lakh crore in FY23, leading to compression in the gross borrowing by states to Rs 8.4 lakh crore, a… [+3494 chars]

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