Finance Commission files report to President

The 14th Finance Commission, headed by former Reserve Bank of India (RBI) governor Y V Reddy, on Monday gave its report to the President's office.

The panel gave its views on the devolution of tax receipts from the Centre to the states between April 1, 2015, and March 31, 2020.

The panel was appointed on January 2, 2013, to give its report by October 31 this year. But its tenure was extended till December 31.

The panel had sought two more months to examine financial projections and carry out consultations with the Andhra Pradesh and Telangana governments.

The panel was also asked to look into the Goods and Services Tax.

The commission's terms of reference also included the pricing of public utilities such as electricity and water in an independent manner and the sale of non-priority public-sector units.