Fifteenth Finance Commission
State Emblem of India
Commission overview
Formed27 November 2017; 6 years ago (2017-11-27)
Preceding Commission
Superseding agency
JurisdictionWhole of India
Headquarters15th Finance Commission, Jawahar Vyapar Bhawan, Tolstoy Marg, New Delhi
28°37′29.8″N 77°13′11.5″E / 28.624944°N 77.219861°E / 28.624944; 77.219861
Minister responsible
Deputy Minister responsible
Commission executives
Parent departmentDepartment of Economic Affairs, Ministry of Finance, Government of India
Key documents
Websitefincomindia.nic.in

The Fifteenth Finance Commission (XV-FC or 15-FC) is an Indian Finance Commission constituted in November 2017 and is to give recommendations for devolution of taxes and other fiscal matters for five fiscal years, commencing 2020-04-01. The commission's chairman is Nand Kishore Singh, a senior member of the Bharatiya Janata Party (BJP) since March 2014,[1] with its full-time members being Ajay Narayan Jha, Ashok Lahiri and Anoop Singh. In addition, the commission also has a part-time member in Ramesh Chand.

Constitution

The Fifteenth Finance Commission was constituted by the Government of India—after getting ceremonial approval from President of India—through a notification in The Gazette of India on 2017-11-27.[2][3] Nand Kishore Singh was appointed as the commission's chairman, with its full-time members being Shaktikanta Das and Anoop Singh and its part-time members being Ramesh Chand and Ashok Lahiri.[4][5][6]

The commission held its first meeting on 2017-12-04.[7][8][9][10] Lahiri was elevated to the status of a full-time member in May 2018 and was accorded the status of a minister of state.[11][12] Das resigned as member on 11 December 2018,[13] to become the Governor of Reserve Bank of India.[14][15][16]

In July 2019, the commission's term was extended by a month to November 2019, and its terms of reference (ToR) were expanded by the Union Cabinet and asked it to consider whether "adequate, secure and non-lapsable" funds could be provided for funding defence and internal security, and how would a distinct system to fund defence and internal security be operationalised.[17][18]

Members

Profile of members of the Fifteenth Finance Commission
S. no.
Name
Portrait
Designation
Background in finance and economics
1
Nand Kishore Singh
Chairman
 Retired Indian Administrative Service (IAS) officer. Served as Union Revenue Secretary, Union Economic Affairs Secretary and Union Expenditure Secretary. Also served as a member of the erstwhile Planning Commission. Post-retirement, served as a member of the Parliament in the Rajya Sabha (Council of the States) for the state of Bihar. He has been a senior member of the Bharatiya Janata Party since March 2014.[19]
2
Prof. (Dr.) Anoop Singh
Member
 An adjunct professor at Georgetown University, Washington, D.C. Also served as the International Monetary Fund's director of its Regional Office of Asia and the Pacific.
3
Dr. Ashok Lahiri[a]
 Former Chief Economic Adviser to the Government of India, director of the National Institute of Public Finance and Policy, executive director at the Asian Development Bank, reader at the Delhi School of Economics at the University of Delhi, and the chairperson of Bandhan Bank.
4
Ajay Narayan Jha
 Retired IAS. Served as the Union Finance Secretary and Union Expenditure Secretary. He was appointed member of the commission in lieu of Das.
5
Prof.Dr. Ramesh Chand[20]
Member (part-time)
 A member of the NITI Aayog, a fellow of National Academy of Agricultural Sciences and Indian Society of Agricultural Economics. Also served as the director of the National Institute of Agricultural Economics and Policy Research.
Notes
  1. ^ Lahiri served as a part-time of the commission from November 2017 to May 2018, before being elevated to the status of a full-time member.[11]

Extensions

The commission was to submit its Report on the basis of its Terms of Reference (ToR) by 30 October 2019 covering a period of five years commencing from 1 April 2020.[21]

In July 2019, The Union Cabinet chaired by Prime Minister Narendra Modi approved the extension of the term of Fifteenth Finance Commission up to 30 November 2019 to enable the commission to examine various comparable estimates for financial projections in view of reforms and the new realities to finalise its recommendations for the period 2020–2025, after taking into consideration, its constitution in the backdrop of various major fiscal/budgetary reforms introduced by the Union Government in the past four years like closure of the Planning Commission and its replacement by NITl Aayog, removal of distinction between Non-Plan and Plan expenditure, advancing the budget calendar by one month and passing of the full budget before commencement of the new financial year i.e. on 1 February, introduction of Goods and Services Tax (GST) from July 2017 and New FRBM architecture with debt and fiscal deficit path, and also the task of determining the expenditure and receipts of the Union and State governments based on which the Commission shall make its recommendations is time-consuming, as checks for data consistency across time and data sets become challenging.[22]

In November 2019, the Cabinet approved the 15th Finance Commission to submit first report for the first fiscal year viz. 2020-21 and to extend the tenure of 15th Finance Commission to provide for the presentation of the final report covering FYs 2021–22 to 2025-26 by October 30, 2020. The statement by the government cited reasons such as, due to restrictions imposed by the model code of conduct, the commission completed its visit to states only recently, which had a bearing on the detailed assessments of states requirements, comprehensively examining their implications and aligning them to the requirements of the states and the central government will require additional time, and making a five-year coverage available for the commission beyond 1 April 2021, will help both state and central governments design schemes with medium- to long-term financial perspective and provide adequate time for mid-course evaluation and correction.[23][24]

The first report, consisting of recommendations for the financial year 2020–21, was tabled in Parliament in February 2020.[25]

On 9 November 2020, the Fifteenth Finance Commission (XVFC) led by Chairman Sh N K Singh, submitted its report for the period 2021–22 to 2025–26 to the Hon'ble President of India.[26]

The final report with recommendations for the 2021-26 period was tabled in Parliament on February 1, 2021.[25]  

Aims

The commission was set up to give recommendations for devolution of taxes and other fiscal matters for five fiscal years, commencing 1 April 2020.[2][3] The main tasks of the commission were to "strengthen cooperative federalism, improve the quality of public spending and help protect fiscal stability".[27][28][29] Some newspapers like The Hindu and The Economic Times noted that commission's job was made harder because of the roll-out of goods and service tax (GST) regime in India, as, it had taken certain powers concerning taxation away from the union and the states, and, had given them to the newly formed GST Council.[30][31] The peer-reviewed journal, Economic and Political Weekly, further noted that even after the passage of the Fiscal Responsibility and Budget Management Act, 2003, some states still incur revenue deficits, so, the commission would have to either recommend the disbandment of revenue deficit grants, or, would have to recommend ways for further fiscal consolidation.[32]

The commission's chairman, N. K. Singh, said that the commission would need to define populism, as, the commission's terms of reference (ToR) had a provision for rewarding states which were successful in eliminating or reducing expenditure incurred on populist schemes.[33][34][35][36] Singh added that the commission would need to reappraise the formula of devolution of revenue through the union's taxes, because of a provision in its ToR.[37][38][39] Singh further said, in a lecture to Indian Institute of Management Ahmedabad students, that one of the commission's challenges was to find a balance between equity and efficiency,[40] adding that urban and rural local bodies—the constitutionally-mandated third-tier of government in India—needed to be further empowered to stimulate added economic growth.[41]

Chief Economic Adviser to the Government of India, Arvind Subramanian, said that the commission may need to function like the first finance commission because of an increased decentralisation and change in India;[42][43][44] further suggesting to divide the tax devolution system into four pots – "return", "redistribution", "risk sharing" and "reward",[42][44] while also saying that tax devolution was no more a north–south issue.[43][44] However, Subramanian's ideas were opposed by Pinaki Chakraborty, a professor at the National Institute of Public Finance and Policy, and a member of the Fifteenth Finance Commission's advisory council, who said that having a division of tax devolution into four pots would violate "the objective of offsetting revenue disabilities."[45]

The commission's chairperson, N. K. Singh, said in April 2019 that there should be mechanisms through which the Finance Commissions and the GST Council could coordinate to "ensure there are multiplier benefits of a higher growth trajectory".[46]

Demands

At its first interaction with members of parliament (MPs),[47] the commission was asked by some MPs to recommend a plan on compensating states which suffered revenue losses after the roll-out of GST.[48] Some parliamentarians also asked the commission to reassess the criteria of classifying a state as 'backwards'.[49][50]

The president of Nationalist Congress Party, Sharad Pawar, suggested the commission to create a financial buffer against oil prices.[51] Whereas, the chief minister of Bihar and Janata Dal (United) president and convener, Nitish Kumar—in a letter to the commission's chairman, N. K. Singh—asked the commission to revisit the criterion of the target of a maximum 3% fiscal deficit under the Fiscal Responsibility and Budget Management Act, 2003, calling it "iniquitous".[51] Singh added, that the state was still waiting for special financial allocations promised to it under the Bihar Reorganisation Act, 2000.[51]

The commission, on its visit to the state, was asked by the Government of West Bengal to look into restructuring the state's debt, so that it does not become "a permanent drag on the economy of Bengal";[52][53] the state's chief minister and All India Trinamool Congress chairperson, convener and president, Mamata Banerjee, said in a press conference, that "we expect that Finance Commission will consider our demand for debt restructuring or waiver".[52][53] West Bengal government further suggested an alternative devolution formula based on factors like social backwardness, locational complexities and continuation of revenue deficits to the commission.[54]

The commission was asked by several state governments to increase states' share in union's tax devolution from the existing 42  per cent to 50 per cent.[53][55][56][57] Whereas, the Government of India asked the commission to review a 10 per cent hike from 32 per cent to 42 per cent in tax devolution given to states by the Fourteenth Finance Commission,[57][58][59] with Union Minister of Finance, Arun Jaitley, saying that "India is a Union of states, the Union also has to survive".[58][60]

Working

A meeting of the Fifteenth Finance Commission, attended by its chairperson, members, secretary and other staffers; c. 2017

The commission visited several states, and held meetings with senior political and non-political state government officials of different states;[61][53][55][62] most states also generally submitted a memorandum to the commission outlining their needs and demands to the panel.[61][53][55][62] It also met with representatives of the industry and bankers.[63][64] Das acted as chairman of the commission in state visits without Singh.[61] The commission further met with the representatives of various federal government agencies, including the vice-chairman and chief executive officer of its quasi-autonomous policy think-tank, the NITI Aayog, Rajiv Kumar and Amitabh Kant respectively.[65]

The commission was headquartered in New Delhi at the Jawahar Vyapar Bhawan on Tolstoy Marg and its offices were provided security cover by the Central Industrial Security Force.[66][67]

In July 2019, the commission's term was extended by a month to November 2019, and its terms of reference (ToR) were expanded by the Union Cabinet and asked it to consider whether "adequate, secure and non-lapsable" funds could be provided for funding defence and internal security, and how would a distinct system to fund defence and internal security be operationalised.[17][18]

Advisory bodies

Advisory council

The commission constituted an advisory council "to advise it on matters related to its terms of reference".[68][69][70] The council consisted of president of Forum for Strategic Initiatives and former Chief Economic Adviser to the Government of India, Arvind Virmani; Oxus Research and Investments chairman and a part-time member of the Prime Minister's Economic Advisory Council, Surjit Bhattal; a former deputy director in the IMF, Sanjeev Gupta; a professor at the National Institute of Public Finance and Policy, Pinaki Chakraborty; JP Morgan chief India economist, Sajjid Chinoy; and a managing director and India economist and strategist at Credit Suisse, Neelkanth Mishra.[68][69][70]

Chief Economic Adviser to the Government of India, Krishnamurthy Subramanian, was inducted as a member of the advisory council in May 2019.[71][72]

High-level group

High-level advisory group on health-related issues
Naresh Trehan
Devi Shetty
K. Srinath Reddy

Further, the commission also constituted a high-level group to inter alia advise it on "ways and means to" make effective use of the "existing financial resources and to" encourage "the state governments' effort on" fulfilling "well-defined health parameters in India".[73][74] The group comprised All India Institute of Medical Sciences, New Delhi director, Randeep Guleria as its convener and Narayana Health City chairman, Devi Shetty; Maharashtra University of Health Sciences vice-chancellor, Deelip Govind Mhaisekar; chairman, managing director and chief cardiac surgeon of Medanta Health City, Naresh Trehan; professor and head of department of cardiothoracic surgery at R. G. Kar Medical College and Hospital, Bhabatosh Biswas; and president of Public Health Foundation of India, K. Srinath Reddy as its members.[73][74]

Criticism

South India penalised for population control

Finance minister of Kerala, T. M. Thomas Isaac was a major opponent of the Fifteenth Finance Commission's terms of reference

Politicians—including chief ministers and finance ministers—; retired civil servants; judges; and economists from South Indian states opposed the commission's terms of reference,[75][76][77][78] as, it used the data of 2011 census, instead of the data of 1971 census, as previous commissions had.[79][80][81] South Indian states believes that this would dilute the share of South India in the pool of union's tax revenue, because of its progressive measure in population control vis-à-vis the north since 1971.[82][83][84][85][86] Kerala finance minister, T. M. Thomas Issac, proposed a meeting of finance ministers of the ten states and union territories to discuss the commission's ToR.[87][88][89][90] In response, Subhash Chandra Garg, Union Economic Affairs Secretary, said that the terms of reference were balanced and were "not one way or the other", adding that according to the second provision of the ToR, states with a good total fertility rate—especially, the ones which had reached the replacement rate (2.1 children per woman)—would be incentivised.[91][92][93] Garg's views were reiterated by the nation's finance minister and Bharatiya Janata Party (BJP) Rajya Sabha leader, Arun Jaitley, who—in a Facebook post—said that the row over the commission's terms of reference was "needless" and could not have been "further from the truth".[94][95] Prime minister and BJP Lok Sabha leader, Narendra Modi, said that vested interests were behind the allegations that the commission's terms of reference being biased against certain states and union territories and called such allegations "baseless".[96][97]

Finance ministers of the states of Karnataka, Kerala and Andhra Pradesh and the finance minister of the Union Territory of Puducherry met at a conclave in Kerala's capital, Thiruvananthapuram, in April 2018 and collectively denounced the commission's terms of reference, calling them to be in contradiction with the principles of federalism.[98][99] Five state and two union territory finance ministers met in Andhra Pradesh's capital, Amaravati, and drafted a memorandum to the president, Ram Nath Kovind, seeking changes in the commission's terms of reference.[100][101] The group of finance ministers eventually met the president on 2018-05-17.[102]

In July 2018, the vice president, Venkaiah Naidu—in his capacity as the chairman of Rajya Sabha—asked the commission's chairman, N. K. Singh, if certain states would be penalised with the use of 2011 census and was ensured by Singh that performing and progressive states would not be penalised by the commission.[103]

Classification of Delhi

Aam Aadmi Party (AAP) convener and the chief minister of Delhi, Arvind Kejriwal, criticised the commission for treating the National Capital Territory of Delhi neither as a state nor as a union territory (UT), saying that the Delhi government deserved a ₹52,000 crore (equivalent to ₹700 billion or US$8.7 billion in 2023) grant from the union government if it qualified as a UT in the commission's eyes,[104][105][106] else it deserved more devolution of union government's tax revenue as a state.[104][105][106] Kejriwal added that the Government of Delhi would move to the Supreme Court of India on the matter.[104][105][106] AAP national executive and political affairs committee member and Delhi deputy chief minister and finance minister, Manish Sisodia said that the terms of reference of the commission were "unfair";[107][108] Sisodia was a part of the group of state and union territory finance ministers who met with the president.[102] In addition, AAP national joint secretary, Akshay Marathe said—citing Central Board of Direct Taxes figures—that the National Capital Territory of Delhi contributed as much as ₹1.08 lakh crore (equivalent to ₹1.5 trillion or US$19 billion in 2023)—or 13 per cent—of the nation's direct tax revenue and got around ₹325 crore (equivalent to ₹456 crore or US$57 million in 2023) from the Government of India in return.[109]

Others

Jammu and Kashmir finance minister, economist and Jammu and Kashmir Peoples Democratic Party member, Haseeb Drabu, said, in an editorial in Livemint commented that the commission's ToR were outdated, and needed to be redrafted "to make the 15th Finance Commission a "second generation" commission".[110]

References

  1. ^ Deepak Nagpal (23 March 2014). "Elections 2014: MJ Akbar, NK Singh join BJP | Zee News". Zeenews.india.com. Retrieved 23 November 2017.
  2. ^ a b "S.O. 3755(E).—The following order made by the President is to be published for general information:— ORDER" (PDF). The Gazette of India. New Delhi: Department of Economic Affairs, Government of India. 27 November 2017. ISSN 0254-6779. OCLC 1752771. Retrieved 20 January 2018.
  3. ^ a b "Constitution of Fifteenth Finance Commission Notified". Press Information Bureau of India. 27 November 2018. Retrieved 20 January 2018.
  4. ^ "N.K. Singh heads 15th Finance Commission, Shaktikanta Das a member". Business Standard. New Delhi: Business Standard Ltd. Indo-Asian News Service. 27 November 2017. OCLC 496280002. Retrieved 17 December 2018.
  5. ^ "NK Singh appointed Chairman of 15th Finance Commission". Business Line. 27 November 2017. ISSN 0971-7528. OCLC 456162874. Retrieved 17 December 2018.
  6. ^ "N.K. Singh appointed chairman of 15th Finance Commission". Livemint. New Delhi: Vivek Khanna. Press Trust of India. 27 November 2017. Retrieved 17 December 2018.
  7. ^ "First Meeting of the Fifteenth Finance Commission, North Block, New Delhi". Finance Commission of India. 4 December 2017. Retrieved 20 January 2018.
  8. ^ Mishra, Asit Ranjan (3 December 2017). "15th Finance Commission to hold first meeting today". Livemint. New Delhi: HT Media Ltd. Retrieved 20 January 2018.
  9. ^ Surabhi (4 December 2017). "15th Finance Commission holds first meeting". Business Line. New Delhi: The Hindu Group. Retrieved 20 January 2018.
  10. ^ "15th Finance Commission holds first meeting, seeks academic inputs from leading think-tanks – Firstpost". Firstpost. New Delhi. Press Trust of India. 4 December 2017. Retrieved 31 March 2018.
  11. ^ a b "Ashok Lahiri appointed full-time member of 15th Finance Commission". Business Standard. New Delhi: Business Standard Ltd. Press Trust of India. 3 May 2018. OCLC 496280002. Retrieved 31 July 2018.
  12. ^ "Ashok Lahiri full-time member of fin panel". The Tribune. New Delhi. Tribune News Service. 4 May 2018. Retrieved 17 December 2018.
  13. ^ "Acceptance of resignation of Shri Shaktikanta Das-Member, FFC" (PDF). Department of Economic Affairs, Ministry of Finance, Government of India. 11 December 2018. Retrieved 16 December 2018.
  14. ^ Prasad, Gireesh Chandra; Ghosh, Shayan; Gopakumar, Gopika (11 December 2018). "Shaktikanta Das, who oversaw demonetization, is new RBI governor". Livemint. New Delhi/Mumbai: Vivek Khanna. Retrieved 12 December 2018.
  15. ^ "Shaktikanta Das Is New RBI Governor". BloombergQuint. 11 December 2018. Retrieved 11 December 2018.
  16. ^ "Shaktikanta Das: The man behind GST, note ban now heads RBI". The Economic Times. 11 December 2018. OCLC 61311680. Retrieved 11 December 2018.
  17. ^ a b "Cabinet asks finance panel to consider securing funds for defence". The Indian Express. New Delhi: Indian Express Group. Express News Service. 18 July 2019. OCLC 70274541. Retrieved 4 August 2019.
  18. ^ a b "Cabinet approves Amendment in the Terms of Reference for the Fifteenth Finance Commission". Business Standard. Business Standard Ltd. Capital Markets. 17 July 2019. OCLC 496280002. Retrieved 4 August 2019.
  19. ^ Nagpal, Deepak (23 March 2014). "Elections 2014: MJ Akbar, NK Singh join BJP". Zee News. New Delhi: Zee Media Corporation Limited. Retrieved 3 April 2018.
  20. ^ "| NITI Aayog".
  21. ^ "Cabinet approves extension of the term of the Fifteenth Finance Commission up to 30th November, 2019". pib.gov.in. Retrieved 27 November 2021.
  22. ^ "Cabinet approves extension of the term of the Fifteenth Finance Commission up to 30th November, 2019". pib.gov.in. Retrieved 27 November 2021.
  23. ^ PTI (27 November 2019). "Cabinet extends term of 15th Finance Commission". The Hindu. ISSN 0971-751X. Retrieved 27 November 2021.
  24. ^ "Cabinet extends term of 15th Finance Commission". The Economic Times. Retrieved 27 November 2021.
  25. ^ a b "Committee Reports". PRS Legislative Research. Retrieved 27 November 2021.
  26. ^ "The 15th Finance Commission submits its Report for 2021-22 to 2025-26 to the President of India". pib.gov.in. Retrieved 27 November 2021.
  27. ^ Vikraman, Shaji (2 November 2017). "Finance Commission's changing roles, challenges over the years". The Indian Express. OCLC 70274541. Retrieved 30 March 2018.
  28. ^ "The tasks for the 15th Finance Commission". Livemint. HT Media Ltd. 6 December 2017. Retrieved 20 January 2018.
  29. ^ Chandrasekhar, K. M. (30 October 2017). "Agenda for 15th Finance Commission". Business Standard. OCLC 496280002. Retrieved 26 March 2018.
  30. ^ "New India formula? — on the 15th Finance Commission". The Hindu. Editorial. 6 December 2017. ISSN 0971-751X. OCLC 13119119. Retrieved 26 March 2018.
  31. ^ Srinivas, V. (4 January 2018). "The challenges before 15th Finance Commission are many". The Economic Times. Indo-Asian News Service. OCLC 61311680. Retrieved 26 March 2018.
  32. ^ Bhaskar, V. (10 March 2017). "Challenges before the Fifteenth Finance Commission". Economic and Political Weekly. 53 (10). ISSN 0012-9976. LCCN sa67002009. OCLC 46735231.
  33. ^ Vikraman, Shaji (8 December 2017). "On 'populist steps', tricky mandate for new Finance Commission". The Indian Express. OCLC 70274541. Retrieved 30 March 2018.
  34. ^ "Now, Finance Commission to define what constitutes 'populism'". The New Indian Express. New Delhi. Express News Service. 1 March 2018. OCLC 243883379. Retrieved 27 March 2018.
  35. ^ "15th Finance Commission will need to define 'populism', says chairman". Business Standard. New Delhi. Press Trust of India. 28 February 2018. OCLC 496280002. Retrieved 27 March 2018.
  36. ^ "15th Finance Commission will need to define populism: Chairman NK Singh". The Economic Times. New Delhi. Indo-Asian News Service. 28 February 2018. OCLC 61311680. Retrieved 27 March 2018.
  37. ^ "15th finance commission to review tax devolution formula". Livemint. New Delhi: HT Media Ltd. A staff writer. 1 March 2018. Retrieved 27 March 2018.
  38. ^ "Tax devolution to States remains challenge for 15th Finance Commission, too". Business Line. The Hindu Group. Our Bureau. 28 February 2018. ISSN 0971-7528. OCLC 456162874. Retrieved 27 March 2018.
  39. ^ "Finance Commission to study use of cess as a revenue raising tool". The Indian Express. New Delhi. ENS Economic Bureau. 1 March 2018. OCLC 70274541. Retrieved 27 March 2018.
  40. ^ "Fiscal challenges include balancing equity with efficiency". The Times of India. Ahmedabad: Bennett, Coleman & Co. Ltd. Times News Network. 23 July 2018. OCLC 23379369. Retrieved 31 July 2018.
  41. ^ "For growth, local bodies need to be empowered". The Indian Express. Ahmedabad: Indian Express Group. Express News Service. 23 July 2018. OCLC 70274541. Retrieved 31 July 2018.
  42. ^ a b Subramanian, Arvind (23 July 2018). "Arvind Subramanian: If this were the First Finance Commission!". Business Standard. Business Standard Ltd. OCLC 496280002. Retrieved 21 August 2018.
  43. ^ a b "Tax contribution, sharing no more a north-south issue: Arvind Subramanian". Business Standard. New Delhi: Business Standard Ltd. 20 July 2018. OCLC 496280002. Retrieved 21 August 2018.
  44. ^ a b c "15th Finance Commission may need to work like it's the first: Subramanian". Business Standard. 21 July 2018. OCLC 496280002. Retrieved 21 August 2018.
  45. ^ Chakraborty, Pinaki (14 August 2018). "Finance Commission Transfers: The Subramanian formula is flawed". The Financial Express. New Delhi. OCLC 30000665. Retrieved 21 August 2018.
  46. ^ Mehra, Puja (26 April 2019). "There should be a mechanism by which GST Council and Finance Commission can coordinate: N.K. Singh". The Hindu Centre for Politics and Public Policy. The Hindu Group. Retrieved 10 May 2019.
  47. ^ "15th Finance Commission initiates consulltations [sic] meets MPs". Business Standard. New Delhi. Press Trust of India. 14 March 2018. OCLC 496280002. Retrieved 28 March 2018.
  48. ^ "Bring roadmap for GST compensation to states, MPs urge Finance Commission". Business Standard. New Delhi. Indo-Asian News Service. 14 March 2018. OCLC 496280002. Retrieved 27 March 2018.
  49. ^ "Revisit criteria of backward states, MPs tell finance panel". The Tribune. New Delhi. Tribune News Service. 14 March 2018. Retrieved 28 March 2018.
  50. ^ "MPs suggest relook at processes, methods of looking backwardness of a State". United News of India. New Delhi. United News of India. 14 March 2018. Retrieved 28 March 2018.
  51. ^ a b c Hebbar, Nistula; Phukan, Sandeep (1 April 2018). "15th Finance Commission gets long wish list". The Hindu. New Delhi: The Hindu Group. ISSN 0971-751X. OCLC 13119119. Retrieved 3 April 2018.
  52. ^ a b "Finance Commission takes note of Bengal's debt restructure demand". Millennium Post. 17 July 2018. Retrieved 31 July 2018.
  53. ^ a b c d e "Taken serious note of West Bengal's debt overhang: 15th Finance Commission". The Financial Express. Kolkata. Press Trust of India. 17 July 2018. OCLC 30000665. Retrieved 31 July 2018.
  54. ^ "Bengal suggests alternative devolution formula to Finance Commission". Business Standard. Kolkata: Business Standard Ltd. Indo-Asian News Service. 18 July 2018. OCLC 496280002. Retrieved 31 July 2018.
  55. ^ a b c "15th Finance Commission not against states: Mr N K Singh". Deccan Chronicle. Thiruvananthapuram. 30 May 2018. Retrieved 1 August 2018.
  56. ^ "Gujarat asks FinComm to hike state share in central tax pool to over 50%". Business Standard. New Delhi: Business Standard Ltd. Press Trust of India. 23 July 2018. OCLC 496280002. Retrieved 31 July 2018.
  57. ^ a b Mishra, Asit Ranjan (30 July 2018). "Gujarat opposes Modi government's proposal to reduce states' share of central taxes". Livemint. Retrieved 21 August 2018.
  58. ^ a b "15th finance panel to review 42% allocation to states". The Times of India. New Delhi: Bennett, Coleman & Co. Ltd. Times News Network. 28 November 2018. OCLC 23379369. Retrieved 18 August 2018.
  59. ^ "Increase in share of central taxes to states to be reviewed". Deccan Chronicle. New Delhi. Deccan Chronicle. 24 February 2018. Retrieved 18 August 2018.
  60. ^ "Cabinet approves setting up of 15th Finance Commission". The Economic Times. New Delhi: The Times Group. ET Bureau. 23 November 2018. OCLC 61311680. Retrieved 18 August 2018.
  61. ^ a b c Singh, Bikash (6 April 2018). "Finance Commission has nothing to do with fixing terms of reference: Shaktikanta Das". The Economic Times. Itanagar: The Times Group. OCLC 61311680. Retrieved 1 August 2018.
  62. ^ a b "Don't worry, Tamil Nadu will get due attention, says Fifteenth Finance Commission panel chairman N K Singh". The New Indian Express. Chennai. Express News Service. 20 April 2018. OCLC 243883379. Retrieved 1 August 2018.
  63. ^ "Biz bigwigs seek better road links, power supply". The Telegraph. Calcutta. 4 August 2018. OCLC 271717941. Archived from the original on 22 August 2018. Retrieved 20 August 2018.
  64. ^ "15th Finance Commission to hold meeting with RBI Governor, bankers tomorrow". Livemint. Vivek Khanna. Indo-Asian News Service. 7 May 2019. Retrieved 10 May 2019.
  65. ^ "15th Finance Commission Chairman holds productive meeting with NITI Aayog Chairman & CEO". DD News. Prasar Bharti. 28 July 2018. Retrieved 20 August 2018.
  66. ^ "CISF takes over security of 15th Finance Commission office". Business Standard. New Delhi: Business Standard Ltd. Indo-Asian News Service. 8 August 2018. OCLC 496280002. Retrieved 21 August 2018.
  67. ^ "CISF takes over security of 15th Finance Commission Office". United News of India. United News of India. 8 August 2018. Retrieved 21 August 2018.
  68. ^ a b Pushkarna, Vijaya (9 May 2018). "Centre sets up Advisory Council to assist Finance Commission". The Week. Jacob Matthew. Retrieved 31 July 2018.
  69. ^ a b "Fifteenth Finance Commission constitutes an Advisory Council to advise on the matters related to its Terms of Reference". Business Standard. Business Standard Ltd. Capital Market. 11 May 2018. OCLC 496280002. Retrieved 31 July 2018.
  70. ^ a b "Finance Commission sets up experts panel for advise [sic] on its ToR". Business Line. New Delhi: The Hindu Group. Press Trust of India. 9 May 2018. ISSN 0971-7528. OCLC 456162874. Retrieved 31 July 2018.
  71. ^ "Chief Economic Advisor Krishnamurthy Subramanian appointed as member of Advisory Council of 15th Finance Commission". Business Standard. Business Standard Ltd. Asian News International. 3 May 2019. OCLC 496280002. Retrieved 10 May 2019.
  72. ^ "CEA K Subramanian joins Finance panel's advisory council". The Quint. New Delhi. Indo-Asian News Service. 3 May 2019. Retrieved 10 May 2019.
  73. ^ a b "Fifteenth Finance Commission constitutes a High Level Group to examine the strengths and weaknesses for enabling balanced expansion of Health Sector". Press Information Bureau, Government of India. 24 May 2018. Retrieved 31 July 2018.
  74. ^ a b "Finance Commission constitutes HLG to examine strengths, weaknesses of Health Sector". United News of India. 24 May 2018. Retrieved 31 July 2018.
  75. ^ Nair, Sobhana K. (30 March 2018). "'Finance panel's terms of reference undemocratic', says Kerala Finance Minister". The Hindu. New Delhi. ISSN 0971-751X. OCLC 13119119. Retrieved 31 March 2018.
  76. ^ Isaac, T. M. Thomas (26 March 2018). "All Southern States Would Be The Biggest Losers Under The New Finance Commission That Distributes Tax Revenue". Outlook. Retrieved 27 March 2018.
  77. ^ Dwarakanath, Nagarjun (23 March 2018). "CM Siddaramaiah slams Modi govt over fund allocation to southern states under 15th Finance Commission". India Today. Bengaluru. ISSN 0254-8399. Retrieved 26 March 2018.
  78. ^ "15th Finance Commission unfair to Southern States: Andhra Pradesh Finance Minister Yanamala Ramakrishnudu". The New Indian Express. Vijayawada: Express Publications. Express News Service. 2 April 2018. OCLC 243883379. Retrieved 3 April 2018.
  79. ^ "Call for southern States to unite". The Hindu. Hyderabad. Special Correspondent. 27 March 2018. ISSN 0971-751X. OCLC 13119119. Retrieved 27 March 2018.
  80. ^ Majumder, Soumyajit, ed. (28 March 2018). "Why Punish Us For Controlling Population, Enraged Southern States Ask". NDTV. New Delhi. Retrieved 30 March 2018.
  81. ^ "Southern states unite against Centre on fund allocation disparity". The Week. Web Desk. 23 March 2018. Retrieved 26 March 2018.
  82. ^ Sreevatsan, Ajai (30 March 2018). "Why South Indian states are objecting to Finance Commission's mandate". Livemint. New Delhi: HT Media Ltd. Retrieved 31 March 2018.
  83. ^ Venkatraman, Janane (29 March 2018). "The Hindu explains: why the 15th Finance Commission has some States riled". The Hindu. ISSN 0971-751X. OCLC 13119119. Retrieved 31 March 2018.
  84. ^ Balakrishnan, Deepa; Khanna, Sakshi; Murali, Poornima (23 March 2018). "Centre's Tax Allocation Disparity Unites South Against the North". News18. Bengaluru. Retrieved 26 March 2018.
  85. ^ Nageshwar, K. (23 March 2018). "North-South tussle over 15th Finance Commission, govt should seek measures to bridge gap, not widen it". Firstpost. Retrieved 26 March 2018.
  86. ^ Koshy, Sneha Mary (23 March 2018). "Southern States Oppose New Yardstick In 15th Finance Commission". NDTV. Thiruvananthapuram. Retrieved 26 March 2018.
  87. ^ Mehta, Pratap Bhanu (30 March 2018). "A southern discontent". The Indian Express. OCLC 70274541. Retrieved 30 March 2018.
  88. ^ Ramakrishnan, T. (28 March 2018). "T.N. yet to decide on FMs' meet". The Hindu. ISSN 0971-751X. OCLC 13119119. Retrieved 30 March 2018.
  89. ^ "Devolution of taxes: It's north vs south". The Economic Times. ET Now. 27 March 2018. OCLC 61311680. Retrieved 30 March 2018.
  90. ^ "Modi Government trying to curtail independent functioning of states: Finance Minister Thomas Isaac". The New Indian Express. Kochi. Express News Service. 25 March 2018. OCLC 243883379. Retrieved 29 March 2018.
  91. ^ Suresh, Haripriya (26 March 2018). "Centre justifies use of 2011 census for funds allocation, responds to south discontent". The News Minute. Retrieved 26 March 2018.
  92. ^ "15th Finance Commission is very balanced: Garg". Business Line. The Hindu Group. Our Bureau. 26 March 2018. ISSN 0971-7528. OCLC 456162874. Retrieved 26 March 2018.
  93. ^ Dhasmana, Indivjal (1 March 2018). "Does Finance Commission ToR hurt interest of South India: DMK fears allayed". Business Standard. New Delhi. OCLC 496280002. Retrieved 27 March 2018.
  94. ^ "15th Finance Commission: Needless row over terms of reference, says Jaitley". The Hindu. New Delhi: N. Ram. 10 April 2018. ISSN 0971-751X. OCLC 13119119. Retrieved 1 August 2018.
  95. ^ "Controversy over 15th Finance Commission is 'needless', asserts Jaitley". Business Standard. New Delhi: Business Standard Ltd. Asian News International. 11 April 2018. OCLC 496280002. Retrieved 1 August 2018.
  96. ^ "Divided we fall: on the 15th Finance Commission". The Hindu. N. Ram. 14 April 2018. ISSN 0971-751X. OCLC 13119119. Retrieved 1 August 2018.
  97. ^ Babu, Gireesh (12 April 2018). "Modi rejects allegations of southern states over 15th Finance Commission". Business Standard. Chennai: Business Standard Ltd. OCLC 496280002. Retrieved 18 August 2018.
  98. ^ "'Terms Of Reference' Of 15th Finance Commission Against Progressive States". Bloomberg Quint. Press Trust of India. 10 April 2018. Retrieved 1 August 2018.
  99. ^ "Four southern govts say terms of reference of 15th Finance Commission unfair: Meet brings back North versus South debate". Firstpost. 11 April 2018. Retrieved 1 August 2018.
  100. ^ "Census choice: Non-BJP state Finance Ministers against 15th Finance Commission terms". The Financial Express. 8 May 2018. OCLC 30000665. Retrieved 1 August 2018.
  101. ^ Roychoudhury, Arup (14 May 2018). "15th Finance Commission: Where Centre and states stand". Business Standard. Business Standard Ltd. OCLC 496280002. Retrieved 1 August 2018.
  102. ^ a b "ToR of 15th Finance Commission: Ministers of five states meet President Ram Nath Kovind, urge amendment to terms". Firstpost. New Delhi: Network 18. Indo-Asian News Service. 17 May 2018. Retrieved 1 August 2018.
  103. ^ "Performing states not to be penalised by 15th Finance Commission: Naidu". The Economic Times. The Times Group. Press Trust of India. 18 July 2018. OCLC 61311680. Retrieved 1 August 2018.
  104. ^ a b c "Will move court for more funds from Centre: Kejriwal". The Hindu. The Hindu Group. 5 April 2018. ISSN 0971-751X. OCLC 13119119. Retrieved 5 April 2018.
  105. ^ a b c "Will move court for 'due share' in central taxes revenue, says CM Arvind Kejriwal". The Financial Express. Indian Express Group. Press Trust of India. 5 April 2018. OCLC 30000665. Retrieved 5 April 2018.
  106. ^ a b c "AAP govt to move SC for Delhi's share in revenue distribution from Centre". The Statesman. New Delhi: The Statesman Ltd. Statesman News Service. 5 April 2018. OCLC 1772961. Retrieved 5 April 2018.
  107. ^ "Sisodia to meet Prez over 'unfair' reference terms of 15th Finance Commission". Business Standard. New Delhi: Business Standard Ltd. Press Trust of India. 17 May 2018. OCLC 496280002. Retrieved 1 August 2018.
  108. ^ Mishra, Alok K. N. (16 May 2018). "Delhi finance minister to meet President for greater share in central taxes". The Times of India. New Delhi: Bennett, Coleman & Co. Ltd. OCLC 23379369. Retrieved 1 August 2018.
  109. ^ Marathe, Akshay (25 May 2018). "Delhi gets little from central funds: Will 15th Finance Commission be fair?". The Wire. Foundation for Independent Journalism. Retrieved 1 August 2018 – via Business Standard.
  110. ^ Drabu, Haseeb (27 February 2018). "15th Finance Commission: Mandate sans Mission". Livemint. HT Media Ltd. Retrieved 21 August 2018.

External links

Ministry of Finance (India)
Finance Commission of India
Categories