Chairman, Members of 15th FC call on President

Speed Post News Network

New Delhi : The Chairman and Members of the 15^thFinance Commission (FC) on February 15, 2018,  called on the President Ram Nath Kovind and apprised him of the progress made in the work of the Commission so far.

Since the constitution of the Commission, it has already undertaken intensive consultations with stakeholders, regional interactions and drawn-up tentative programme of visiting the various States.  The First visit of the Commission would commence from the State of Arunachal Pradesh in April followed by J&K.

The Finance Commission was constituted by the Government on November 27, 2017 under the chairmanship of N K Singh and comprising Members: Shaktikanta Das, Dr Anoop Singh, Dr Ashok Lahiri and Dr Ramesh Chand.

The FC will submits its recommendation on several key areas including distribution between the Union and States of the net proceeds of taxes which are to be, or may be, divided between them under Chapter- I, Part XII of the Constitution and the allocation between the States of the respective shares of such proceeds and principles which should govern the grants-in-aid of the revenues of the States out of the Consolidated Fund of India and the sums to be paid to the States by way of grants-in-aid of their revenues under Article 275 of the Constitution, according to a PIB release.

The Commission is expected to recommend the fiscal consolidation roadmap of the Central and the State Government.