Let's reshape it today. Corning Gorilla Glass TougherTogether. ET India Inc. ET Engage. ET Secure IT. A tale of new cities: The main challenge before govt's aim to develop eight new cities A grant by the 15th Finance Commission to incubate eight new cities is aimed at boosting planned urbanisation in India. Need to revisit direct taxes, says N K Singh "Our dialogue today is on how to deepen economic reforms and cover areas that we had not, such as farm sector, labour and completing the elusive agenda on power sector reforms.
No distinction between general and special category states in 14th Finance Commission: Govt The minister was replying to a written question by JD U MP Rajiv Ranjan Singh on whether the Union government is considering to give special status to Bihar, which is a long-pending demand of the state. Finance ministry releases Rs 9, crore grant to 17 states The eligibility of states to receive this grant and the quantum of grant was decided by the Commission based on the gap between assessment of revenue and expenditure of the state after taking into account the assessed devolution for the financial year All News Videos Photos.
Finance Ministry releases Rs 9, cr to 17 states as revenue deficit grant The grants are released as per the recommendations of the 15th Finance Commission in monthly instalments to meet the gap in revenue accounts of the states post-devolution. Finance Ministry releases Rs 13, crore to 25 states as grant to RLBs Tied grants are meant to ensure the availability of additional funds to the rural local bodies over and above the funds allocated by the Centre and states for sanitation and drinking water under the Centrally Sponsored Schemes.
View: As the GST enters its fifth year, here're the challenges ahead Going forward, it is key that the tax base be expanded. Centre in better position to negotiate terms of procurement of Covid vaccine: N K Singh "In the end it's the central government which should have been and was always in a much better position to do so.
New rule: Additional borrowing space only if states agree to take over discoms' future losses As per the guidelines issued by the finance ministry, states cannot renege on power purchase contracts, cannot have unpaid subsidies to discoms, will have to reduce operational and financial losses, and will have to reduce industrial tariffs.
View: Swachh Bharat Mission has lessons to curtail rural spread of coronavirus In , rural India pledged to eradicate open defecation by October , a pledge it redeemed in earnest. Utilisation of COVID grants to UP govt under cloud The utilisation of Rs 1, crore received by the Uttar Pradesh government under grants for rural local bodies appears to be under a cloud after the Centre expedited the payment considering the urgent need of resources to fight the second wave of Covid Centre expedites release of Rs 8, crore of rural local body grants to 25 states This marked the first instalment of untied grants for the ongoing fiscal, released to the states for the village, block and district level of panchayati raj institutions, said a finance ministry statement on Sunday.
COVID management: Centre releases Rs 8, cr to 25 states as grants for rural local bodies The grants are meant for all the three tiers of Panchayati Raj Institutions - village, block and district, an official statement said.
Punjab's 6th pay commission recommends two-fold increase in salaries for govt employees The average increment in salaries and pensions of employees is expected in the range of 20 per cent, with salaries in for a 2.
Centre planning to give states flexibility to compete for Centrally Sponsored Schemes: Anoop Singh The Centre is planning to give states the flexibility to compete for better Centrally Sponsored Schemes CSS within an overall entitlement through its ongoing process of review of various CSS, according to Anoop Singh, member of the 15th Finance Commission.
Need Fiscal Council like institution to better manage Centre, state debt: NK Singh Fact that we are one of those countries which have some kind of fiscal architecture, but does not have independent fiscal institutions is a factor that needs to be kept in mind". Load More. Start Learning English Hindi. This question was previously asked in. Indira Rajaraman C.
Rangarajan Vijay Kelkar None of the above. Start Now. The correct answer is Vijay Kelkar. Key Points Dr. Vijay L. Kelkar was the chairman of the 13th Finance Commission. Shri Sumit Bose was secretary of the 13th Finance Commission. Indira Rajaraman was a Member of the 13th Finance Commission. This commission's operational duration was from to and the Year of the establishment was Additional Information The Finance Commission FC is a constitutional body, that determines the method and formula for distributing the tax proceeds between the Centre and states, and among the states as per the constitutional arrangement and present requirements.
Under Article of the Constitution , the President of India is required to constitute a Finance Commission at an interval of five years or earlier. The latest 15th Finance Commission was constituted by the President of India in November , under the chairmanship of N.
Set up under Article of the Constitution, its core responsibility is to evaluate the state of finances of the Union and State Governments, recommend the sharing of taxes between them, lay down the principles determining the distribution of these taxes among States. Its working is characterised by extensive and intensive consultations with all levels of governments, thus strengthening the principle of cooperative federalism.
Its recommendations are also geared towards improving the quality of public spending and promoting fiscal stability. The first Finance Commission was set up in and there have been fifteen so far. Each of them has faced its own unique set of challenges. The Fifteenth Finance Commission was constituted on 27 November against the backdrop of the abolition of Planning Commission as also of the distinction between Plan and non-Plan expenditure and the introduction of the goods and services tax GST , which has fundamentally redefined federal fiscal relations.
On the whole the Finance Commission faces new challenges in the process of the evolution of our federal polity. As an important Constitutional entity, the Commission is committed to balancing competing claims and priorities among all three tiers of government in a credible manner. You are visitor no - Disclaimer Feedback.
Site Hosted by NIC. Fifteenth Finance Commission. Chairman Message The Finance Commission is a Constitutionally mandated body that is at the centre of fiscal federalism.
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