Budget 2026 to incorporate recommendations of 16th Finance Commission
The Union Budget 2026 will include recommendations from the 16th Finance Commission. This constitutional body has submitted its report on tax sharing between the Centre and states. The commission's suggestions for the period 2026-27 to 2030-31 will be crucial. Historically, the government accepts these recommendations. The report details tax devolution formulas and grants-in-aid to states.