The 15th Finance Commission report, released in November 2020, provides recommendations on the distribution of tax revenues between the central government and the states of India for the period 2021-2026. The major emphases of the report on the Indian economy are:

• Increasing the share of states from the central pool of tax revenues from the current 42% to 41%, which has been done to provide more resources to the states for their development programs.
• Measures to promote better coordination between the center and the states in areas such as healthcare, education, and disaster management.
• Strengthening of the fiscal performance of the states through reforms in public sector enterprises, rationalization of subsidies, and better tax administration.
• The report also suggested specific grants to states for development of health infrastructure, promotion of a blue economy, improvement of the judicial system and development of their tourism potential.

Overall, the 15th Finance Commission report provides a roadmap for the distribution of resources between the center and the states, with a focus on enhancing the fiscal capacity and development potential of the states.