Which of the following statements is correct regarding 15th Finance Commission? 1) It recommended share of states in the central taxes for the 2021-26 period to be 41%. 2) The share recommended by commission was more than the 14th Finance Commission’s recommendation.Select the correct answer, using the codes given below |ForumIAS

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[A] 1 only

[B] 2 only

[C] Both 1 and 2

[D] Neither 1 nor 2

Answer: A

Notes:

Statement 1 is correct. The share of states in the central taxes for the 2021-26 period is recommended to be 41%, same as that for 2020-21.

Statement 2 is incorrect. The share is less than the 42% share recommended by the 14^th Finance Commission for 2015-20 period.