Indian Polity · Polity
Consider the following statements regarding tax devolution and the Finance Commission in India: I. The percentage share of States in the divisible pool of Union taxes is determined by the Union Government through the annual Budget. II. Cesses and surcharges levied by the Union form part of the divisible pool recommended for devolution to States by the Finance Commission. III. The Finance Commission recommends both the vertical devolution of taxes between the Centre and States and the horizontal distribution among States. How many of the above statements are correct?
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