15th finance panel gets extension to examine defence funding mechanism

The commission will now submit its report on separate funding mechanism on November 30, instead of October 31

The Union Cabinet on Wednesday extended the term of the 15th Finance Commission (FC), and added a new term of reference, which requires the commission to examine if a separate mechanism for funding of defence and internal security ought to be set up.
 
This means that the FC will submit its report to the government on November 30 this year, rather than October 31.
 
“The Cabinet chaired by Prime Minister Narendra Modi has approved the proposed amendment to enable 15th Finance Commission to address serious concerns regarding the allocation of adequate, secure and non-lapsable funds for defence and