15th Finance Commission finalises its Report, to be submitted to President on November 9
The Report will be tabled in the Parliament by Union Finance Minister Nirmala Sitharaman
The Fifteenth Finance Commission headed by Chairman N K Singh on Friday concluded its deliberations on the Report for the year 2021-2022 to 2025-2026. It will be presented to President Ram Nath Kovind on November 9.
The Report will be tabled in the Parliament by Union Finance Minister Nirmala Sitharaman along with an Action Taken Report of the Government of India. The Report contains recommendations pertaining to 5 financial years, 2021-22 to 2025-26.
The Commission will also present a copy of the Report to the Prime Minister later next month.
The Commission has finalized its Report after wide-ranging consultations with the Union and State Governments, local governments at different tiers, Chairmen and Members of previous Finance Commissions, Advisory Council to the Commission and other domain experts, academic institutions of eminence and multilateral institutions.
The Fifteenth Finance Commission was constituted by the President in pursuance of clause (1) of article 280 of the Constitution, read with the provisions of the Finance Commission (Miscellaneous Provisions) Act, 1951 (33 of 1951) with N.K. Singh as Chairman, Shaktikanta Das, Dr. Anoop Singh, Dr. Ashok Lahiri and Dr. Ramesh Chand as Members and Arvind Mehta as Secretary. Subsequent to Shaktikanta Das demitting his office, Ajay Narayan Jha was appointed as a Member.
It was constituted on November 27, 2017 against the backdrop of the abolition of the Planning Commission and the distinction between Plan and non-Plan expenditure, and the introduction of the Goods and Services Tax (GST).