The Finance Commission has observed that the GDP numbers have somewhat fluctuated within the overall global trend which suggests continued high growth trend over the medium term.
The Commission has also noted that the revenue projections on the Direct Taxes are healthy though on Indirect Taxes, there have been periodic fluctuations.
The observation came during discussions between the Finance Ministry and the Finance Commission on the overall economic situation, fiscal management and key economic variables.
Discussions were also held on GST issues, local body grants and population data.
On the expenditure trend, there were discussions in regard to the rationalisation of the Centrally Sponsored Schemes in sync with the new life cycle. (AIR NEWS)