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15th Finance Commission likely to pitch for more powers to local bodies

The 15th FC is also likely to bring back performance-based incentives for states, wherein they will be assessed on certain parameters

Panchayat

The 15th Finance Commission (15th FC), which is to submit its report in a little over six months, may recommend giving greater financial freedom and powers to panchayats and urban local bodies. For this, it is likely to suggest an increase in property tax rates. The 15th FC is also likely to bring back performance-based incentives for states, wherein they will be assessed on certain parameters, Business Standard has learnt. Performance-based incentives were recommended by the 13th Finance Commission but omitted by the next one. In the commission’s meetings with various ...