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 along with Members Ajay Narayan Jha, Ashok Lahiri and Ramesh Chand and Prof. Anoop Singh.
The report seeks to address a whole range of issues including transfer of funds to local bodies, disaster management grant and performance incentives to states, issues of defence expenditure.
It will be made public domain once it is tabled in the Parliament by the Centre along with explanatory memorandum/action taken report on the recommendations contained in the report.
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