Overview
- Chaired by Arvind Panagariya, the panel also handed the document to Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman.
- The recommendations set the vertical share of Union taxes, the horizontal split across states, grants-in-aid, disaster-management financing, and other revenue measures.
- The award applies to the five fiscal years from 2026-27 through 2030-31.
- The horizontal distribution is based on weighted criteria including population, area, demographic performance, fiscal effort, income distance, and forest cover.
- After it is tabled, the Finance Ministry will examine the proposals and may accept them in full or in part.