The Hindu Business Line : Finance panel holds talks with eastern region economists, officials

Kolkata, March 12 The Chairman of the 13th Finance Commission, Dr Vijay Kelkar, and Members of the Commission, Dr Indira Rajaraman, and Mr B.K. Chaturvedi, have held detailed discussions with economists/economic administrators from the eastern region here. The Commission is expected to submit its final report by October 2009.

It is learnt that the discussions focused on the terms of reference of the Commission, its mandate, scope as well as suggestions for improving the finances of both Centre and the States.

Finance review

As per information available, wide ranging discussions took place on the review of the finances of Centre and States, and the measures needed for maintaining a stable and sustainable fiscal environment for achieving growth with equity.

Operations of the States’ debt consolidation and relief facility introduced on the basis of the recommendations of the 12th Finance Commission also figured in the discussions.

The Commission had earlier held meetings in Delhi, Chennai and Bangalore, and will hold a series of further meetings in various parts of the country in the coming months.

As part of the efforts to elicit views and suggestions, the Commission has launched an interactive Web site (http;//fincomindia.nic.in), where the public and various stakeholders can submit their suggestions to the Commission online.

The 13th Finance Commission as constituted to give specific recommendations on the sharing of tax receipts between the Centre and States and also for outlining the principles for providing grants-in-aid to the States from the Consolidated Fund of India.

The Commission is also expected to suggest steps for augmenting the Consolidated Funds of the States to supplement the resources of the panchayats and municipalities.

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