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Market ends at record high, Nifty above 11,550; Infy down 06%

Market ends at record high, Nifty above 11,550; Infy down 06%

Market Ahead

As a direct result of the Narendra Modi government’s decision to turn Jammu and Kashmir and Ladakh into two separate union territories, the Fifteenth Finance Commission (FFC) is likely to allocate sums from the divisible tax pool to 28 states, instead of 29.

The allocations for the two union territories of Jammu and Kashmir and Ladakh are expected to come out of the Centre’s liabilities, Business Standard has learnt. “It now becomes 28 states instead of 29, and according to the standard practice and the Terms of Reference, the requirements of union territories have to ...

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First Published: Tue, August 06 2019. 17:45 IST