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India


Fifteenth Finance Commission to submit its report to President on Nov 9

Fifteenth Finance Commission to submit its report to President on Nov 9

New Delhi, Oct 30 (UNI) The Fifteenth Finance Commission (XVFC), headed by Chairman N K Singh, on Friday concluded their deliberations on the Report for the year 2021-2022 to 2025-2026.
The Report was signed by Mr Singh, the Chairman of the XVFC, and, Members of the Commission, Ajay Narayan Jha, Prof Anoop Singh, Dr Ashok Lahiri and Dr Ramesh Chand, the Finance Commission said in a statement here.
The Commission had sought time to present its report to President Ram Nath Kovind. It has now been communicated by the Office of the President that the report submission will be on November 9.
The Commission will also present a copy of the Report to Prime Minister Narendra Modi later next month.
The Report will be tabled in Parliament by Union Finance Minister Nirmala Sitharaman along with
an Action Taken Report of the Government. The Report contains recommendations pertaining to five financial years, 2021-22 to 2025-26.
The report of the XVFC for the year 2020-21, presented to the President in December 2019, was laid by the Government in the Parliament along with an Action Taken Report.
The 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 Mr Singh as Chairman, Shaktikanta Das, Dr Anoop Singh, Dr Ashok Lahiri and Dr Ramesh Chand as Members and Arvind Mehta as Secretary.
Subsequent to Mr Das demitting his office, Ajay Narayan Jha was appointed as a Member.
The Commission has finalised their 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 multi-lateral institutions.
UNI NY PS 1720

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