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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 ...
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 ...
Sixteenth Finance Commission is the Finance Commission constituted by Government of India under Article 280 of Constitution. Arvind Panagariya has been appointed as the Chief of the commission with the main task of determining revenue sharing between Central Government and State Government for a period of five years from April 1, 2026.
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 force in April 2015; they take ...
Thirteenth Finance Commission. The Thirteenth Finance Commission of India was constituted by the President of India under the chairmanship of Vijay L. Kelkar on 13 November 2007. [1]
The five-member panel, which includes Former Finance Secretary Sumit Bose, Chief Economic Adviser Arvind Subramanian, Reserve Bank of India Governor Urjit Patel and National Institute of Public Finance and Policy Director Rathin Roy, is chaired by Mr. N.K. Singh. The committee's mandate includes making recommendations to pave the way forward ...
The Commission recommended that each State be given a share as specified the net proceeds of all shareable union taxes and duties except the expenditure tax and service tax. Data for percentage share for certain states is Bihar-14.597, Maharashtra-4.632, Kerala-3.057, Uttar Pradesh-19.798, Punjab-1.147
The commission dropped the collection factor as the criterion for distribution; The distribution of the net proceeds among states would be as follows:- 20% on the basis of population of 1971; 60% on basis of distance of per capita income; 5% on basis of area adjusted; 5% on basis of infrastructure index; 10% on basis of tax effort; References