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What is the key issue regarding State Finance Commissions that was discussed during the 15th Finance Commission's meeting with the RBI?
- a)The need for a permanent status for the Finance Commission
- b)The necessity of State Finance Commissions to rationalize and systematize State/sub-state fiscal relations in India
- c)The need for uniform expenditure codes across the country
- d)The role of states in the growth of the Indian economy
Correct answer is option 'B'. Can you explain this answer?
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What is the key issue regarding State Finance Commissions that was dis...
During the 15th Finance Commission's meeting with the RBI, the key issue discussed regarding State Finance Commissions was their necessity to rationalize and systematize State/sub-state fiscal relations in India.
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What is the key issue regarding State Finance Commissions that was dis...
State Finance Commissions Discussion:
State Finance Commissions play a crucial role in rationalizing and systematizing State/sub-state fiscal relations in India. This key issue was discussed during the 15th Finance Commission's meeting with the RBI.
Importance of State Finance Commissions:
- State Finance Commissions are instrumental in ensuring a fair distribution of financial resources between the states and local bodies.
- They help in strengthening fiscal federalism by providing recommendations on devolution of funds from the State government to local bodies.
- State Finance Commissions also assess the financial position of local bodies and suggest measures to improve their revenue generation.
Challenges Faced:
- Lack of uniformity in the functioning of State Finance Commissions across different states.
- Limited capacity and resources available to State Finance Commissions to effectively carry out their responsibilities.
- The need for greater transparency and accountability in the decision-making processes of State Finance Commissions.
Way Forward:
- There is a need for greater coordination and collaboration between the State Finance Commissions and the central government to ensure a more cohesive fiscal framework.
- State Finance Commissions should be given a permanent status to enhance their credibility and effectiveness.
- Efforts should be made to strengthen the institutional capacity of State Finance Commissions through training and resource allocation.
In conclusion, the discussion on the role of State Finance Commissions highlights the importance of these bodies in promoting fiscal discipline and accountability at the sub-state level in India. By addressing the challenges and enhancing their capacity, State Finance Commissions can contribute significantly to the overall economic growth and development of the country.
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What is the key issue regarding State Finance Commissions that was discussed during the 15th Finance Commissions meeting with the RBI?a)The need for a permanent status for the Finance Commissionb)The necessity of State Finance Commissions to rationalize and systematize State/sub-state fiscal relations in Indiac)The need for uniform expenditure codes across the countryd)The role of states in the growth of the Indian economyCorrect answer is option 'B'. Can you explain this answer?
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What is the key issue regarding State Finance Commissions that was discussed during the 15th Finance Commissions meeting with the RBI?a)The need for a permanent status for the Finance Commissionb)The necessity of State Finance Commissions to rationalize and systematize State/sub-state fiscal relations in Indiac)The need for uniform expenditure codes across the countryd)The role of states in the growth of the Indian economyCorrect answer is option 'B'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about What is the key issue regarding State Finance Commissions that was discussed during the 15th Finance Commissions meeting with the RBI?a)The need for a permanent status for the Finance Commissionb)The necessity of State Finance Commissions to rationalize and systematize State/sub-state fiscal relations in Indiac)The need for uniform expenditure codes across the countryd)The role of states in the growth of the Indian economyCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What is the key issue regarding State Finance Commissions that was discussed during the 15th Finance Commissions meeting with the RBI?a)The need for a permanent status for the Finance Commissionb)The necessity of State Finance Commissions to rationalize and systematize State/sub-state fiscal relations in Indiac)The need for uniform expenditure codes across the countryd)The role of states in the growth of the Indian economyCorrect answer is option 'B'. Can you explain this answer?.
What is the key issue regarding State Finance Commissions that was discussed during the 15th Finance Commissions meeting with the RBI?a)The need for a permanent status for the Finance Commissionb)The necessity of State Finance Commissions to rationalize and systematize State/sub-state fiscal relations in Indiac)The need for uniform expenditure codes across the countryd)The role of states in the growth of the Indian economyCorrect answer is option 'B'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about What is the key issue regarding State Finance Commissions that was discussed during the 15th Finance Commissions meeting with the RBI?a)The need for a permanent status for the Finance Commissionb)The necessity of State Finance Commissions to rationalize and systematize State/sub-state fiscal relations in Indiac)The need for uniform expenditure codes across the countryd)The role of states in the growth of the Indian economyCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What is the key issue regarding State Finance Commissions that was discussed during the 15th Finance Commissions meeting with the RBI?a)The need for a permanent status for the Finance Commissionb)The necessity of State Finance Commissions to rationalize and systematize State/sub-state fiscal relations in Indiac)The need for uniform expenditure codes across the countryd)The role of states in the growth of the Indian economyCorrect answer is option 'B'. Can you explain this answer?.
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