Speed Post News Network
New Delhi : Chairman of the 15th Finance Commission N K Singh, Members Ajay Narayan Jha, Ashok Lahiri, Ramesh Chand, Anoop Singh, and Secretary Arvind Mehta on December 5, 2019, called on the President of India Ram Nath Kovind and submitted the report of the Commission for the financial year 2020-21 for necessary action. The Commission apprised the President of the recommendations contained therein.
The XV Finance Commission was constituted by the President of India under Article 280 of the Constitution on November 27, 2017, to make recommendations for a period of five years from 1st April 1, 2020, to March 31, 2025. The Commission had a wide ranging Terms of Reference contained in the Presidential Notification, according to a PIB release.
Thereafter, the Gazette Notification dated November 27, 2019, mandated the XV Finance Commission to submit the report for the financial year 2020-21 by 30 November 30, 2019, and thereafter the final report for the period April 1, 2021, to March 31, 2026, by October 30, 2020.