Why the fifteenth finance commission report merits a proper discussion

It is vital that we have a proper discussion on the medium-term economic and fiscal situation based on the Fifteenth Finance Commission medium-term assessment

Rathin Roy

The Fifteenth Finance Commission (FFC) submits its final report to the president on November 9. The document will then be discussed by the Central government and presented to Parliament, together with an action taken report which specifies whether, or to what extent, the government accepts the recommendations of the report.  A clear decision has to be conveyed on the share of centrally-collected taxes that will accrue to the Centre (the vertical devolution, the formula by which the share of individual states shall be determined (the horizontal devolution), because this ...