The five-member group, to be headed by Finance Commission Chairman N K Singh, comprise secretaries from the ministries of defence, home affairs and finance, besides a member of Commission
The Advisory Council of the Fifteenth Finance Commission will meet on Thursday
The meeting will be chaired by chairman of the Commission, N K Singh, and will be attended by its members including A N Jha, Ashok Lahiri, Ramesh Chand, Anoop Singh and Arvind Mehta.
Experts say MoSPI can take up leadership role but states will have to do actual work
The term of the commission was originally set to end in October 2019, but was extended by one month to November 30
States such as Bihar, Maharashtra, and erstwhile state of Jammu & Kashmir stand to gain, compared with the current year's share, while Karnataka, Telangana, and Kerala stand to lose
The Jammu and Kashmir Reorganisation Act, 2019 says that UT of J&K should get grants from the divisible pool.
Finance Commission's decision to incorporate "demographic performance" in fiscal transfers is laudable
Business Standard Opinion pieces for the day talk about the Budget, Finance Commission and other policy issues
The panel may include or seek inputs from former RBI Governor Urjit Patel, former chief economic advisor Arvind Subramanian, Sajjid Chinoy of the PM-EAC, Rathin Roy, among others
FC's final report should mirror the interim award
The DRI has been developed through a quantitative exercise assigning scores to the probability of hazards and the extent of vulnerability of a state
The states' revenue from the central tax pool was up 25.8 per cent YoY in FY19, while it was down 0.4 per cent YoY in FY18
Nirmala Sitharaman said that the Centre had decided to "substantially" accept the recommendations of the 15th FC but did not indicate which recommendations it has accepted
If more expenditure in the rural economy is the need of the hour to revive demand, it is debatable if such tax giveaways could have waited till GDP growth picks up a little
Expert panel may be set up to define responsibilities of key stakeholders and standards to be followed at all levels of government
Here are the key points
The 15th FC forecast nominal gross domestic product (GDP) growth for 2020-21 at 11%, but said the projection came with a "downward bias".
To reward states for lower total fertility rate and better tax collection
The government has promised to raise Rs 120,000 crore via disinvestment, and an additional Rs 90,000 crore from sale of government equity in public-sector banks and financial institutions, in 2020-21