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16th Finance Commission

06 Mar 2024

16th Finance Commission Invites Application For Economic Advisor Post

The period of appointment of the economic advisor in the Commission will be for two years or till the Commission submits its report

Finance Commission

02 Jan 2024

Explainer: What Is Finance Commission And What Are Its Responsibilities?

The Sixteenth Finance Commission, appointed recently, has been requested to make its report available by 31st day of October, 2025 covering a period of five years commencing on the 1st day of April, 2026.

Finance Commission Chairman

01 Jan 2024

Govt Appoints Arvind Panagariya As 16th Finance Commission Chairman

From January 2015 to August 2017, Panagariya served as the first Vice Chairman of the NITI Aayog, in the rank of Cabinet Minister.

Finance Commission

09 Apr 2023

Govt To Set Up 16th Finance Comm In 2023 - Here's Why

Finance Commission is a constitutional body that gives suggestions on Centre-state financial relations.

economic advisory council

03 Sep 2020

Economic Advisory Council of 15th Finance Commission to meet on Friday

India's Annual Gross Domestic Product (GDP) for April-June 2020 slowed down to 23.9 percent. Centre has put forward the option before states to take loan to deal with the shortfall in GST compensation. If states borrow loans for the purpose, then the financial burden would fall on the states.

29 May 2018

Bihar CM Nitish Kumar reiterates demand for special category status again

Nitish Kumar on Tuesday once again made a pitch for special category status and said that backward states like Bihar must be supported so that they can catch up with the developed states.

14 May 2018

Chidambaram urges states to object to 15th Finance Commission

Former finance minister P. Chidambaram on Monday urged the chief minister's and finance minister of all the state to come together and raise an objection on the Terms of Reference (ToR) prescribed by the 15th Finance Commission for allocation of funds to states.

21 Apr 2017

PM Modi to chair NITI Aayog's Governing Council meet on Sunday

Prime Minister Narendra Modi will chair the upcoming meet of NITI Aayog's Governing Council on Sunday, which is poised to draw up a 15-year development road map called Vision 2030.

11 Sep 2016

BJP challenges opposition to debate over special category status to Andhra

Accusing the opposition parties for criticising the union government over special category status to Andhra Pradesh despite its announcement of a special economic package, the BJP on Sunday challenged them for an open debate on the issue.

19 Jul 2016

The earlier GST Bill is passed, the better for states: FM Jaitley

Government on Tuesday urged the Rajya Sabha to pass the GST bill expeditiously to enable states get a share of the Service Tax which is not shared under the provisions of 14th Finance Commission.

06 Feb 2016

Centre, states should work in unison to boost growth: FM Jaitley

Jaitley appreciated their efforts in attracting foreign investment and expressed the hope that "the growth momentum would catch pace in coming months".

13 Jun 2015

West Bengal to benefit hugely from Finance Commission award: FM Jaitley

Rejecting criticism that West Bengal has not gained from the 14th Finance Commission, Finance Minister Arun Jaitley on Saturday said the state will get Rs 2,85,200 crore during 2015-20, which is nearly three times the amount it received in the previous five years of UPA-2 regime.

16 Mar 2015

Majority of states to gain because of FinCom report: Arun Jaitley

Majority of states would stand to gain due to implementation of the 14th Finance Commission recommendations which has suggested 10 percent hike in devolution of funds to them, Finance Minister Arun Jaitley said Monday.

04 Mar 2015

States should use additional funds for infrastructure: PM Modi

Prime Minister Narendra Modi on Wednesday suggested that additional funds and resources at the disposal of states should be directed primarily towards nation building, an official release here said.

01 Mar 2015

Odisha to get more funds in Finance Commission: Pradhan

Refuting allegations that Odisha would lose revenue following the recommendations of the 14th Finance Commission, union Petroleum Minister Dharmendra Pradhan said on Sunday that it would get about Rs.8,000 crore more funds per annum compared to the 13th commission allocations.

Finance Commission

25 Feb 2015

Finance Commission for reforms in property tax regime

In a significant recommendation, the 14th Finance Commission has called for reforms in property tax regime by giving powers to panchyats and municipalities to levy the tax on plinth basis with a provision for periodic revision and minimising grant of exemptions.

Finance Commission

24 Feb 2015

Finance Commission for 3.6% fiscal deficit in FY16; 3% in following years

The 14th Finance Commission on Tuesday suggested a fiscal deficit target of 3.6 percent of GDP in 2015-16 and 3 percent in the subsequent years on the back of likely pick-up in economic growth.

Finance Commission

25 Feb 2015

Centre accepts Finance Commission report; States' share in taxes up 42%

The total devolution to the states in 2015-16 will be Rs 5.26 lakh crore, as against Rs 3.48 lakh crore in 2014-15, representing an increase of Rs 1.78 lakh crore.

24 Feb 2015

With higher funds, states can design schemes as per need: PM

In a letter to all Chief Ministers, Modi said the states are free to change Centrally Sponsored Schemes and plan the course of their development.

24 Feb 2015

14th Finance Commission report tabled; Jaitley says states must become self-sufficient

Finance Minister Arun Jaitley on Tuesday said that states must gradually become self-sufficient while the entire system of discretionary payments must end.

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