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KL-FINANCE-TOR

KL-FINANCE-TOR

Ker to submit memorandum to 15th Finance Commission over ToR Thiruvananthapuram, May 11 (PTI) Kerala government today said it would submit a memorandum to the 15th Finance Commission against the present Terms of Reference, as it was against the states interests and a threat to its economy. Addressing an all-party meeting, convened to evolve ways toamend the ToR in favour of the state, Chief Minister Pinarayi Vijayan said the state would incur heavy financial loss if the ToR was implemented in the present form. The Chief Minister demanded that tax revenue for states be increased to 50 per cent from the existing 42 per cent and added that Kerala would also place this demand before the Commission. "The ToR has recommendedusing the 2011 census to calculate population for allocation of central tax revenue in place of the 1971 census. If such was the case, we will demand that the states share not be reduced, considering its achievements in the field of population control," he said. Kerala Finance Minister T M Thomas Isaac said the states tax share would come down to 1.8 per cent from the present 2.5 per cent if the 2011 census was taken as the base for allocation of central tax revenue. Representatives of political parties extended full support to the state government for submitting a memorandum to the Commission, highlighting the adverse affect of ToR. The Commission will arrive in Kerala on May 28 and hold discussions with political parties. The Commission would meet government representatives on May 29 and also visit different institutions at Thrissur on May 30, an official release said. PTI JRK APR APR APR APR