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The Chief Economic Advisor unveiled a comprehensive report detailing structural reforms for local governance funding. Highlighting the Sixteenth Finance Commission guidelines, the document outlines a dedicated ten thousand crore rupee urbanisation premium for transitioning census towns. Additionally, it guarantees an eighty-seven thousand crore performance-linked grant for Panchayats. The framework mandates strengthening State Finance Commissions to ensure data-driven, evidence-based fiscal devolution directly reaching grassroots democratic institutions across the nation.
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