What are the recommendations of 13th Finance Commission?
Emily Wong What are the recommendations of 13th Finance Commission?
Recommendations
- The share of states in the net proceeds of the shareable Central taxes should be 32%.
- Revenue deficit to be progressively reduced and eliminated, followed by revenue surplus by 2013–2014.
- Fiscal deficit to be reduced to 3% of the gross domestic product (GDP) by 2014–2015.
What is recommendation of 12th Finance Commission?
Major recommendations Macro-economic stability – The total fiscal deficit for Centre & states to be reduced to 3% of GDP and the total tax-GDP ratio of both centre& states to be increased to 17.6% of GDP in 2009-10. The revenue deficit for the centre& states combined to be reduced to 0% by 2008….
WHO recommended Finance Commission?
the governor
Under Article 243-I of the Indian Constitution, the governor of a state ensures the laying of a State Finance Commission’s recommendations to the table of the state legislature.
How are the recommendations of Finance Commission implemented?
How are the recommendations of Finance Commission implemented? Those to be implemented by an order of the President: The recommendations relating to distribution of Union Taxes and Duties and Grants-in-aid fall in this category. Q.
What are the recommendations of 15th Finance Commission?
The Fifteenth Finance Commission has recommended grants of Rs 4,36,361 crore from the Union government to local bodies for 2021-26. This is an increase of 52% over the corresponding grant of Rs 2,87,436 crore by its predecessor for the period 2015-20.
What are the recommendations of 14th Finance Commission?
The fourteenth finance commission is of the view that tax devolution should be the primary route of resources to the states. The commission recommends to increase the tax devolution of the divisible pool to states to 42% for years 2015 to 2020. This is 10% more compared to 32% target set by 13th financial commission.
Who is chairman of 13th Finance Commission?
. Vijay L. Kelkar
List of Finance Commissions
| Finance Commission | Year of establishment | Chairman |
|---|---|---|
| Twelfth | 2002 | C. Rangarajan |
| Thirteenth | 2007 | Dr. Vijay L. Kelkar |
| Fourteenth | 2013 | Dr. Y. V Reddy |
| Fifteenth | 2017 | N. K. Singh |
Who is the Chairman of 16th Finance Commission?
The most recent Finance Commission was constituted in 2017 and is chaired by N. K. Singh, a former member of the Planning Commission.
Who is 14th commission Chairman?
Dr. Y. V. Reddy
Dr. Y. V. Reddy was appointed the Chairman of the Commission. Report of The Fourteenth Finance Commission (2015-2020).
What are key recommendations of 15th Finance Commission?
Major recommendations of the 15th FC that were incorporated into the Union budget include a boost in health spending, higher borrowing limits for states and a consolidation of centrally sponsored schemes or public programmes implemented by states, but largely funded by the Union government.
What are key recommendations of 15th Finance Commission fy21?
Key recommendations in the first report (2020-21 period) include: Devolution of taxes to states: The share of states in the centre’s taxes is recommended to be decreased from 42% during the 2015-20 period to 41% for 2020-21.
What is the period of 15th Finance Commission?
2021-22 to 2025-26
On 09 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.
What are the key recommendations of the 13th Finance Commission?
The Government must cut its fiscal deficit to 3% of the GDP by the end of fiscal year 2013-14 and eliminate its revenue deficit in 2014-15, according to the key recommendations of the 13th Finance Commission.
What is the 12th Finance Commission’s recommendations for road maintenance?
The 12th Finance Commission has recommended grants separately for maintenance of roads and bridges, maintenance of buildings and forests as under: A grant of Rs.15,000.00 crore over theaward period has been recommended for maintenance of roads and bridges.
What is the Twelfth Finance Commission (TFC)?
The Twelfth Finance Commission (TFC) was appointed by President on 1st November 2002 under the Chairmanship of Dr. C. Rangarajan. The Terms of Reference of the Commission are at Annex-I. Summary of the recommendations of the TFC are placed at Annex-II.
Does the Government of India accept the recommendations of Finance Commission?
The Government of India has accepted the recommendations of the Commission with some modifications. The Fifth Finance Commission was appointed in February 1968 under Article 280 of the Indian Constitution. Shri Mahavir Tyagi was its chairman. The financial report of the Commission was submitted on 31st July 1969. 1.
