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New Delhi : The Fifteenth Finance Commission (XVFC) headed by Chairman N K Singh on October 30, 2020, concluded its deliberations on the Report for the year 2021-2022 to 2025-2026. The Report was signed by N. K. Singh, Chairman, XVFC, and, Members of the Commission : Ajay Narayan Jha, Prof. Anoop Singh, Dr Ashok Lahiri, and Dr Ramesh Chand.
The Commission had sought time to present its Report to the President of India. It has now been communicated by the Office of the President that the Report submission will be on November 9, 2020. The Commission will also present a copy of the Report to Prime Minister Narendra Modi later next month.
The Report will be tabled in the Parliament by the Union Finance Minister Nirmala Sitharaman along with an Action Taken Report of the Government of India. The Report contains recommendations pertaining to 5 financial years, 2021-22 to 2025-26. The Report of the XVFC for the year 2020-21, presented to the President in December 2019, was laid by the Government in the Parliament along with an Action Taken Report, according o a PIB release
XV-FC was constituted by the President of India in pursuance of clause (1) of article 280 of the Constitution, read with the provisions of the Finance Commission (Miscellaneous Provisions) Act, 1951 (33 of 1951) with N K Singh as Chairman, Shaktikanta Das, Dr Anoop Singh, Dr. Ashok Lahiri, and Dr. Ramesh Chand as Members and Arvind Mehta as Secretary. Subsequent to Shaktikanta Das demitting his office, Ajay Narayan Jha was appointed as a Member.
The Commission has finalised its Report after wide-ranging consultations with the Union and State Governments, local governments at different tiers, Chairmen and Members of previous Finance Commissions, Advisory Council to the Commission and other domain experts, academic institutions of eminence and multi-lateral institutions.