Reports are submitted to the President about Finance Commission

The report seeks to deal with an entire range of issues including transfer of funds to local bodies, disaster management grant and performance incentives to states, problems with defence expenditure.

The 15th Finance Commission (FFC) on Monday submitted its report — which defines the devolution of Central tax revenues to states and other fiscal matters — for the five year period from 2021-22 to 2025-26 to President Ram Nath Kovind. Titled ‘Finance Commission in Covid Times’, the report was submitted by the Commission Chairman NK Singh alongside Members Ajay Narayan Jha, Ashok Lahiri and Ramesh Chand and Prof. Anoop Singh.

The report seeks to deal with an entire range of issues including transfer of funds to local bodies, disaster management grant and performance incentives to states, problems with defence expenditure.

It will be made property right once it’s tabled within the Parliament by the Centre alongside explanatory memorandum/action taken report on the recommendations contained within the report.

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