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Chairman of 15th finance commission?
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Chairman of 15th finance commission?
The Chairman of the 15th Finance Commission is N.K. Singh. He was appointed as the Chairman of the Finance Commission in November 2017. N.K. Singh is a renowned economist and a former bureaucrat. He has served as a member of the Planning Commission and has also been a Member of Parliament.
Role of the Finance Commission
The Finance Commission is a constitutional body that is responsible for recommending the distribution of financial resources between the central government and the state governments. The Finance Commission is set up every five years and is chaired by a distinguished economist or a senior bureaucrat.
Functions of the Finance Commission
The Finance Commission performs the following functions:
1. Recommending the distribution of tax revenue between the central government and the state governments.
2. Recommending the allocation of grants-in-aid to the state governments from the central government.
3. Recommending measures to improve the financial position of the state governments.
4. Recommending measures to augment the resources of the state governments.
5. Reviewing the financial position of the central government and making recommendations for improvement.
Conclusion
N.K. Singh, the Chairman of the 15th Finance Commission, has a wealth of experience in economics and public policy. He is well-suited to lead the Finance Commission and is expected to make recommendations that will improve the financial position of the state governments. The Finance Commission is an important constitutional body that plays a critical role in ensuring the equitable distribution of financial resources between the central government and the state governments.
Role of the Finance Commission
The Finance Commission is a constitutional body that is responsible for recommending the distribution of financial resources between the central government and the state governments. The Finance Commission is set up every five years and is chaired by a distinguished economist or a senior bureaucrat.
Functions of the Finance Commission
The Finance Commission performs the following functions:
1. Recommending the distribution of tax revenue between the central government and the state governments.
2. Recommending the allocation of grants-in-aid to the state governments from the central government.
3. Recommending measures to improve the financial position of the state governments.
4. Recommending measures to augment the resources of the state governments.
5. Reviewing the financial position of the central government and making recommendations for improvement.
Conclusion
N.K. Singh, the Chairman of the 15th Finance Commission, has a wealth of experience in economics and public policy. He is well-suited to lead the Finance Commission and is expected to make recommendations that will improve the financial position of the state governments. The Finance Commission is an important constitutional body that plays a critical role in ensuring the equitable distribution of financial resources between the central government and the state governments.
Community Answer
Chairman of 15th finance commission?
The Fifteenth Finance Commission (XVFC) led by Chairman Sh N K Singh, today submitted its Report for the period 2021-22 to 2025-26 to the Hon’ble President of India. Members of the Commission, Shri Ajay Narayan Jha, Prof. Anoop Singh, Dr. Ashok Lahiri and Dr. Ramesh Chand along with Secretary to the Commission ShriArvind Mehta accompanied the Chairman.
As per the terms of reference (ToR), the Commission was mandated to give its recommendations for five years from 2021-22 to 2025-26 by 30 October, 2020. Last year, the Commission had submitted its report containing recommendations for the year 2020-21 which was accepted by the Union Government and tabled in the Parliament on 30 January 2020.
The Commission was asked to give its recommendations on many unique and wide-ranging issues in its terms of reference. Apart from the vertical and horizontal tax devolution, local government grants, disaster management grant, the Commission was also asked to examine and recommend performance incentives for States in many areas like power sector, adoption of DBT, solid waste management etc. The Commission was also asked to examine whether a separate mechanism for funding of defence and internal security ought to be set up and if so how such a mechanism could be operationalised. The Commission has sought to address all its ToRs in this Report to the Union government.
This Report has been organised in four volumes. Volume I and II, as in the past, contain the main report and the accompanying annexes. Volume III is devoted to the Union Government and examines key departments in greater depth, with the medium-term challenges and the roadmap ahead. Volume IV is entirely devoted to the States. The Commission has analysed the finances of each State in great depth and has come up with State-specific considerations to address the key challenges that individual States face.
The Report will be available in the public domain once it is tabled in the Parliament by the Union Government along with explanatory memorandum/action taken report on the recommendations contained in the Report. The cover and title of the Report are also unique in this Report- “Finance Commission in Covid Times” and the use of Scales on the cover to indicate the balance between the States and the Union.
As per the terms of reference (ToR), the Commission was mandated to give its recommendations for five years from 2021-22 to 2025-26 by 30 October, 2020. Last year, the Commission had submitted its report containing recommendations for the year 2020-21 which was accepted by the Union Government and tabled in the Parliament on 30 January 2020.
The Commission was asked to give its recommendations on many unique and wide-ranging issues in its terms of reference. Apart from the vertical and horizontal tax devolution, local government grants, disaster management grant, the Commission was also asked to examine and recommend performance incentives for States in many areas like power sector, adoption of DBT, solid waste management etc. The Commission was also asked to examine whether a separate mechanism for funding of defence and internal security ought to be set up and if so how such a mechanism could be operationalised. The Commission has sought to address all its ToRs in this Report to the Union government.
This Report has been organised in four volumes. Volume I and II, as in the past, contain the main report and the accompanying annexes. Volume III is devoted to the Union Government and examines key departments in greater depth, with the medium-term challenges and the roadmap ahead. Volume IV is entirely devoted to the States. The Commission has analysed the finances of each State in great depth and has come up with State-specific considerations to address the key challenges that individual States face.
The Report will be available in the public domain once it is tabled in the Parliament by the Union Government along with explanatory memorandum/action taken report on the recommendations contained in the Report. The cover and title of the Report are also unique in this Report- “Finance Commission in Covid Times” and the use of Scales on the cover to indicate the balance between the States and the Union.
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Chairman of 15th finance commission?
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Chairman of 15th finance commission? for Class 12 2025 is part of Class 12 preparation. The Question and answers have been prepared according to the Class 12 exam syllabus. Information about Chairman of 15th finance commission? covers all topics & solutions for Class 12 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Chairman of 15th finance commission?.
Chairman of 15th finance commission? for Class 12 2025 is part of Class 12 preparation. The Question and answers have been prepared according to the Class 12 exam syllabus. Information about Chairman of 15th finance commission? covers all topics & solutions for Class 12 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Chairman of 15th finance commission?.
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