New Delhi: The 15th Finance Commission has submitted its report for the year 2021-22 to 2025-26 to Prime Minister Narendra Modi. Earlier, the 15th Finance Commission headed by NK Singh had also submitted its report to President Ramnath Kovind. A copy of the report will also be handed over to Finance Minister Nirmala Sitharaman on November 17. The report was prepared after discussions and marathon meetings with Central and State Governments, various levels of local government, former Chairman and its members of the Finance Commission, Advisory Council of the Commission, experts in related fields, educational institutes and other institutions. Has gone.
Finance Minister Sitharaman will present the report of the Finance Commission in Parliament
Finance Minister Nirmala Sitharaman will present this report in Parliament along with the Action Taken Report of the Government of India. Once presented in Parliament, this report will be placed in the public domain. The report makes recommendations for the year 2021-22 to 2025-26 i.e. 5 financial years. The report of the 15th Finance Commission for the year 2020-21 has been submitted to the President on December 2019. It was introduced in Parliament along with the Action Taken Report from the Central Government.
This report of the Fifteenth Commission has been prepared in 4 volumes
The recommendation report of the Fifteenth Finance Commission has been prepared in four volumes. The first and second volumes contain information about the main report and brochure as in the old reports. The third volume recommends the challenges facing the Central Government and its departments in the medium term and the roadmap ahead. On the other hand, in the fourth volume, recommendations and roadmap about the states are mentioned. The Commission has analyzed the financial situation of each state. Not only this, the commission has prepared its recommendations according to the circumstances, problems and challenges of different states.
The Commission’s report makes recommendations on these topics
The recommendation report prepared in four volumes analyzes various topics and aspects. The report highlights topics such as vertical and horizontal tax devolution, local government grants (LGG), disaster management grants (DMG). In addition, the report discusses the adoption of Power Sector Direct to Benefit (DBT) and review of performance incentives given to states in areas such as dry waste management (SWM). The commission was also asked to look into creating a separate mechanism for financing defense and internal security. If such a mechanism is created then how can it be operated. The Commission has mentioned all the terms of reference on this issue in the report.
These members were included in the Fifteenth Finance Commission
The Fifteenth Finance Commission was constituted by the President under Clause-1 of Section-280 of the Constitution. The commission was chaired by NK Singh, while its members included Shaktikant Das, Prof. Anoop Singh, Dr. Ashok Lahiri and Dr. Ramesh was Chand. On the other hand, Arvind Mehta was made its secretary. Ajay Narayan Jha was later made a member of the commission following the resignation of Shaktikant Das.
