role and functions of finance commission of india pdf

Role And Functions Of Finance Commission Of India Pdf

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Published: 25.05.2021

The first finance commission was formed on 22 November, The headquarter of Finance commission is in New Delhi.

Topics Covered:. Finance Commission of India. Context: People representatives of Panchayat Raj institutions and urban local bodies in Hyderabad are planning to make a case with the visiting 15th Central Finance Commission to enhance the quantum of funds to the local bodies. More so to release the share of funds that the zilla and mandal parishads used to get directly till the 14th Finance Commission discontinued the practice and diverted them to the gram panchayats.

What is the role of Finance Commission?

President appoints this every five years or earlier if necessary. It a quasi judicial body under Article Recommendations of the finance commission are not binding. Fourteenth finance commission under V. Reddy submitted report on implementation time is

Finance Commission of India: The Finance Commission is a constitutional body, that determines the method and formula for distributing the tax proceeds between the Centre and states, and among the states as per the constitutional arrangement and present requirements. The constitution makers were aware of the financial requirements of the Centre and the states. They devised an elaborate method, clearly demarcating the duties and responsibilities of the units of the Union and of the Union itself while allocating resources to perform those duties. To meet these requirements, the Finance Commission came into being. Under Article of the Constitution, the President of India is required to constitute a Finance Commission at an interval of five years or earlier.

Finance Commission of India

The commission will submit its report by October 31, Here is a primer on what the commission does and why:. A finance commission is set up very five years by the President under Article of the Constitution. Its main function is to recommend how the Union government should share taxes levied by it with the states. These recommendations cover a period of five years. The commission also lays down rules by which the centre should provide grants-in-aid to states out of the Consolidated Fund of India. It is also required to suggest measures to augment the resources of states and ways to supplement the resources of panchayats and municipalities.


The key role Finance Commission in India is to act as an instrument to divide proceeds of divisible taxes between the states and the Union.


What is State Finance Commission?

The Finance Commission of India was established on 22nd November, It was formed to describe the financial relations between the centre and the state. The Finance Commission has been provided for the Indian constitution as part of the scheme of division of financial resources between the two different sets of governments. Till now the President of India has asked the commission to make recommendations on the principles governing distribution of the net proceeds of estate duty in respect of Property Tax on Railway fare and excise duties on sugar and tobacco. The President also sought recommendations on the rates of interest, and terms of repayment of loans to the various states by the Government of India.

It is mentioned under the Article of the Constitution, that the President shall constitute a Finance Commission every five years consisting of a chairman and four other members. The President appoints the Commission members based on the qualifications set by the Parliament for the appointment of members and the Chairman of the Finance Commission. The Parliament has enacted the Finance Commission Act, which specifies the qualifications required for the Chairman and the members of the Commission. The members should be selected from amongst the following-. Every member remains in the office till the pleasure of the President of India.

State Finance Commission meaning: The Indian Constitution makers envisioned a two-tier democratic system with a strong federal government at the centre and states as its units. They also clearly demarcated the duties and responsibilities of the Union government and the states and further assigned revenue streams to both of them to discharge their duties and responsibilities. However, this model underwent a major change four decades after the Constitution came into effect.

Finance Commission

What is Finance Commission?

Fifteen Finance Commissions have been constituted since the promulgation of Indian Constitution in Individual commissions operate under the terms of reference which are different for every commission, and they additionally define the terms of qualification, appointment and disqualification, the term, eligibility and powers of the Finance Commission. The most recent was constituted in and is chaired by N. Singh , a former member of the Planning Commission. As a federal nation, India suffers from both vertical and horizontal fiscal imbalances. Vertical imbalances between the central and state governments result from states incurring expenditures disproportionate to their sources of revenue , in the process of fulfilling their responsibilities. However, states are better able to gauge the needs and concerns of their inhabitants and therefore more efficient at addressing them.

Выключив паяльник, он отложил в сторону фонарик и некоторое время отдыхал, лежа под большим стационарным компьютером. Затекшая шея причиняла ему сильную боль. Такая работа была непростой, особенно для человека его комплекции. И они делают их все более и более миниатюрными, - подумал. Прикрыв глаза, давая им долгожданный отдых, он вдруг почувствовал, что кто-то тянет его за ногу.

 Директор! - воскликнул он и, подойдя к Фонтейну, протянул руку.  - С возвращением, сэр. Вошедший не обратил на его руку никакого внимания. - Я д-думал, - заикаясь выговорил Бринкерхофф.  - Я думал, что вы в Южной Америке. Лиланд Фонтейн окинул своего помощника убийственным взглядом. - Я был .

 Да, сэр. Фонтейн понимал, что сейчас не время для объяснении. Он бросил взгляд на истончающиеся защитные щиты.

Но директор давным-давно взял за правило умывать руки, позволяя своим умным сотрудникам заниматься своим делом, - именно так он вел себя по отношению к Тревору Стратмору. - Мидж, тебе отлично известно, что Стратмор всего себя отдает работе. Он относится к ТРАНСТЕКСТУ как к священной корове. Мидж кивнула. В глубине души она понимала, что абсурдно обвинять в нерадивости Стратмора, который был беззаветно предан своему делу и воспринимал все зло мира как свое личное .

Беккер не мог оторвать глаз от ее руки. У него кружилась голова. Слова, которые он прочитал, были теми же, что произнес немец: ПРОВАЛИВАЙ И УМРИ. Девушка, заметно смутившись, посмотрела на свою руку. - Это нацарапал мой дружок… ужасно глупо, правда.

Старик умиротворенно вздохнул.

4 comments

Cira Z.

Functions of Finance Commission​​ The Finance Commission makes recommendations to the president of India on the following issues: The net tax proceeds distribution to be divided between the Centre and the states, and the allocation of the same between states.

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Fealty M.

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Mora A.

The implications of the recommendations of the Fourteenth Finance Commission on finances of Bihar as a result of changes in the tied, untied and overall union devolution are identified.

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Alan C.

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