Comments
The government has no plans to give permanent status to the Finance Commission, Union Minister Anurag Singh Thakur said on Monday.
Currently, the government appoints finance commission for a fixed term.
While replying to a question in the Lok Sabha, Thakur also said the RBI was also not considering any proposal to give permanent status to the commission.
Core responsibilities of the Finance Commission include evaluating the state of finances of the Union and State governments, recommending the sharing of taxes between them, laying down the principles determining the distribution of these taxes among states.
The government in November extended the term of 15th Finance Commission, headed by former bureaucrat N K Singh, by one year to October 30, 2020. The term of the commission was originally set to end in October 2019, but was extended by one month to November 30.
Singh presented the first report pertaining to financial year 2020-21 to the government in December 2019.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.