What are the main recommendations of the 14th Finance Commission?
The commission recommended to keep an aggregate corpus for all States of Rs. 61,219 crore for the five years based on the expenditure from the past years. The commission recommended all States to contribute 10 per cent and Union with the remaining 90 per cent.
Which of the following are among the noticeable features of the recommendation of the 13th Finance Commission?
A design for the Goods and Services Tax, and a compensation package linked to adherence to the proposed design.
Which factor got the highest priority in tax distribution to the states?
Which factor got the highest priority in tax distribution to the states? Explanation: Income inequality in the states got 50% weightage in the tax distribution and population got 17.5% weightage.
Who was the chairman of 14th Finance Commission?
Dr. Y. V. Reddy
The Fourteenth Finance Commission (FC-XIV) was constituted by the President under Article 280 of the Constitution on 2 January 2013 to make recommendations for the period 2015- 20. Dr. Y. V. Reddy was appointed the Chairman of the Commission.
What is the term of 14th Finance Commission?
The 14th Finance Commission of India is constituted under the chairmanship of the former RBI governor Mr. Y.V. Reddy for the period of April 1, 2015, to March 31, 2020. Now the 15th Finance Commission has been set up under the chairmanship of N.K. Singh.
What are the objectives of the Central Finance Commission?
The Finance Commission is constituted by the President under article 280 of the Constitution, mainly to give its recommendations on distribution of tax revenues between the Union and the States and amongst the States themselves.
Are recommendations of Finance Commission binding?
Are the recommendations made by the Finance Commission binding on the government? The Finance Commission’s recommendations are not binding on the government.
What are the recommendations of the latest Finance Commission?
Recently, the government accepted the 15th Finance Commission’s recommendation to maintain the States’ share in the divisible pool of taxes to 41% for the five-year period starting 2021-22. The Commission’s Report was tabled in the Parliament.
What is Finance Commission explain?
What is the main function of Finance Commission?
A finance commission is set up very five years by the President under Article 280 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.
What are the recommendations of 15th Financial Commission with respect to horizontal and vertical devolution from Centre to state?
For horizontal devolution, it has suggested 12.5% weightage to demographic performance, 45% to income, 15% each to population and area, 10% to forest and ecology and 2.5% to tax and fiscal efforts.
What is 15th Finance Commission report?
The Report of the Fifteenth Finance Commission. The Fifteenth Finance Commission (XVFC)’s ToR was unique and wide ranging in many ways. The Commission was asked to recommend performance incentives for States in many areas like power sector, adoption of DBT, solid waste management etc.
What was the report of the 14th Finance Commission?
The 14th Finance Commission report has been accepted by the center,the report has been tabled today and it recommended that the Center transfer 42% of divisible pool to the states, including taxes and grants the 13th Finance commission had suggested it a 39.5% devolution to the states. Download Complete Report PDF.
What is the role of 15th Finance Commission?
The Finance Commission is a constitutional body formed by the President of India to give suggestions on centre-state financial relations. The 15th Finance Commission is required to submit two reports. The first report will consist of recommendations for the financial year 2020-21.
What’s the summary of Book 14 of the Odyssey?
The Odyssey Book 14 Summary & Analysis. Odysseus -the-beggar tells Eumaeus that he was born in Crete, the unlawful son of a rich man and a concubine. As a young man he loved adventure and war but not home and family: he won honor in battle and took a lot of treasure from foreign lands. Then he led a fleet in the Trojan war,…
How did Odysseus test Eumaeus generosity in the Odyssey?
Odysseus decides to test Eumaeus’s generosity: he describes a freezing, snowy night during the Trojan War when he complained to Odysseus that he was about to die from the cold. Odysseus then sent one of his own men on a made-up mission so that he, the beggar, could take his cloak.