States have been strongly pitching for extension of the compensation period by three years to 2024-25
Such statements will only contribute to trust deficit among stakeholders
the Centre changed the terms of reference of the 15th Finance Commission and mandated the panel to suggest ways for allocation of non-lapsable funds for defence and internal security
The medium-term fiscal policy statement, tabled as part of the Union Budget 2019-20, forecasts nominal GDP for 2019-20 to grow 11 per cent year-on-year
The official added that it isn't immediately clear if the 15th Finance Commission will be given additional terms of reference or more time to adjust
The 15th Finance Commission has been asked to recommend, among other things, a road map for sound management of government finances