15th Finance Commission report

News:The Finance Minister has tabled the interim report of the 15th Finance Commission recommendations. Facts: About 15th Finance Commission: The 15th Finance Commission was constituted by the President of India under the chairmanship of NK Singh. The term of the commission was originally set to end in October 2019 but was extended to November 30,… Continue reading 15th Finance Commission report

Explained:Meet the poets the FM quoted in her Budget speech

News:The Finance Minister has quoted four poets in her Budget speech namely Pt. Dinanath Nadim, Avvaiyar, Thiruvalluvar and Kalidas. Facts: About Dinanath Nadim: Dinanath Nadim was born in 1916.He wrote in Kashmiri, Hindi and Urdu. He received the Sahitya Akademi award in 1986 for his opera Shuhul Kull (The Shady Tree).  Well-known works : Vitasta… Continue reading Explained:Meet the poets the FM quoted in her Budget speech

Fifteenth Finance Commission submits report to President

News: The Fifteenth Finance Commission (FFC) has submitted its first report to President Ram Nath Kovind Facts: About Finance Commission The Finance Commission is a constitutional body constituted by the President under Article 280 of the India Constitution. The Commission is appointed every five years. Composition: The Finance Commission has a chairman and four members… Continue reading Fifteenth Finance Commission submits report to President

Govt. extends 15th finance panel term

News:The Union Cabinet has approved the extension of the term of the 15th Finance Commission setting 30th October,2020 as the new deadline. Facts: About Finance Commission: The Finance Commission is constituted by the President under Article 280 of the Constitution mainly to give its recommendations on distribution of tax revenues between the Union and the… Continue reading Govt. extends 15th finance panel term

Finance Commission

News:The 15th Finance Commission has assured the Rajasthan government’s demand for additional funds on the basis of factors such as difficult geography, heterogeneous society, limited resources and future needs. Facts: About Finance commission: The Finance Commission is constituted by the President under Article 280 of the Constitution mainly to give its recommendations on distribution of… Continue reading Finance Commission

With J&K status change, 15th Finance Commission will have to redo math

The Centre has revoked the provisions of Article 370 which granted special status to Jammu and Kashmir.It has also proposed bifurcation of the state into two Union territories Jammu and Kashmir and Ladakh. However,due to the change in status of J&K statehood,the Fifteenth Finance Commission will have to rework its calculations for distribution of central… Continue reading With J&K status change, 15th Finance Commission will have to redo math

Finance Commission hold meeting with representatives of Autonomous Development Councils (ADCs) of Meghalaya

The 15th Finance Commission has held a meeting with the representatives of the Autonomous District Councils(ADCs) of Meghalaya.There are 3 ADCs in Meghalaya namely the Khasi Hills ADC,Garo Hills ADC and Jaintia Hills ADC. Autonomous District Councils in the tribal dominated areas of North East are administrative bodies constituted in accordance to Sixth Schedule Article… Continue reading Finance Commission hold meeting with representatives of Autonomous Development Councils (ADCs) of Meghalaya

GDP numbers suggest high growth in the medium term: panel

Finance Commission has held discussions with the finance ministry on fiscal and economic management of the country, During the meeting,15th Finance Commission has said that the GDP numbers suggests continued high growth over the medium term even though there have been fluctuations within the overall global trend. Gross domestic product(GDP) is the monetary value of… Continue reading GDP numbers suggest high growth in the medium term: panel

Finance panel to reconcile data

The 15th Finance Commission has said that it will reconcile data from several sources to come up with its own conclusion of a reliable economic data. The data includes key financial variables of state expenditure and debt from Comptroller and Auditor General(CAG),data on central government’s debt and public sector borrowings. Further,the finance commission has expressed… Continue reading Finance panel to reconcile data

Income support, UDAY driving fiscal slippages: RBI

The Reserve Bank has warned of the rising risks to fiscal consolidation of the states as their finances are burdened with (a)farm loan waivers (b)income support schemes and (c)UDAY bonds for their power distribution companies. These remarks were made during a meeting between the members of the 15th Finance Commission and the RBI members. Further,other… Continue reading Income support, UDAY driving fiscal slippages: RBI