Q1. In the context of Union-State tax devolution in India, the term 'divisible pool' refers to which one of the following?
- A. The net proceeds of Union taxes shareable with the States after deducting cost of collection, surcharges and cesses levied for specific purposes
- B. The total gross tax revenue collected by the Union Government, including all cesses and surcharges, before any deduction
- C. The corpus of grants-in-aid extended to needy States out of the Consolidated Fund of India under Article 275
- D. The combined balances of the Consolidated Funds of the Union and the States set apart for inter-governmental transfers