The Central government is likely to set up the 16th Finance Commission this year to suggest, among other things, the ratio in which tax is to be divided between the Centre and states for five years, beginning April 1, 2026. The Delhi CM said that the 14th and 15th Finance Commissions allocated grant- in-aid -- Rs 2,87,436 crore for 2015-2020 and Rs 4,36,361 crore for 2021-26, respectively -- for the local bodies in the country. This amounts to Rs 500 per capita per year to the urban local bodies, he said.
