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Sixteenth Finance Commission was formed under Article 280 of the constitution [2] for determining the sharing of tax revenues between Union Government of India and States for five year period starting from 1 April 2026, [3] [4] determining the principles for granting of the aid from the Consolidated Fund of India to states and implementation of various measures for augmenting the resources of ...
The Finance Commissions (IAST: Vitta Āyoga) are commissions periodically constituted by the President of India under Article 280 of the Indian Constitution to define the financial relations between the central government of India and the individual state governments. The First Commission was established in 1951 under The Finance Commission ...
Fourteenth Finance Commission. The Fourteenth Finance Commission of India was a finance commission constituted on 2 January 2013. The commission's chairman was former Reserve Bank of India governor Y. V. Reddy and its members were Sushma Nath, M. Govinda Rao, Abhijit Sen, Sudipto Mundle, and AN Jha. The recommendations of the commission entered ...
The Fifteenth Finance Commission (XV-FC or 15-FC) is an Indian Finance Commission constituted in November 2017 and is to give recommendations for devolution of taxes and other fiscal matters for five fiscal years, commencing 2020-04-01. The commission's chairman is Nand Kishore Singh, a senior member of the Bharatiya Janata Party (BJP) since ...
The share of States in the proceeds of income tax was to be 55 per cent. The First Commission recommended that shares of States in the Union excise duties be 40 per cent of the proceeds of the tax on three commodities, 25 per cent of the proceeds of the tax on eight commodities and 20 per cent of the proceeds of the tax on 35 commodities, respectively.
The major recommendations of the Commission were: The share of states in the net proceeds of the shareable Central taxes should be 32%. This is 1.5 percentage-points higher than the recommendation of the 12th Commission. Revenue deficit to be progressively reduced and eliminated, followed by revenue surplus by 2013–2014.
e. The Union Public Service Commission (UPSC; ISO: Saṁgha Loka Sevā Āyoga) is a constitutional body tasked with recruiting officers for All India Services and the Central Civil Services (Group A and B) through various standardised examinations, widely considered to be one of the most selective examinations in the world. [1]
The commission expressed that such inclusion was constitutionally forbidden but it can be reviewed by National Development Council. States share was increased from 75% to 80% due to the decrease in the divisible pool as the arrears of the advance tax collection had been cleared