Fifteenth Finance Commission to submit to report on Nov 9

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​The Finance Commission will also present a copy of the report to the Prime Minister later next month

The Fifteenth Finance Commission (XV-FC) led by chairman NK Singh will submit its report on November 9 to the President of India. The Commission has on Friday concluded the deliberations on the report for the year 2021-2022 to 2025-2026, said the Finance Commission.

The report was signed NK Singh, and members of the commission namely Ajay Narayan Jha, Prof Anoop Singh, Dr Ashok Lahiri and Dr Ramesh Chand.

“​The Commission had sought time to present its report to the President of India. It has now been communicated by the President’s office that the report submission will be November 9,” said the Commission in a statement.

​The Finance Commission will also present a copy of the report to the Prime Minister later next month.

The report will be tabled in the Parliament by the Union Finance Minister along with an action taken report of the government. The report contains recommendations pertaining to five  financial years, 2021-22 to 2025-26.

The Report of the XV-FC for the year 2020-21, presented to the President in December 2019, was laid by the government in the Parliament along with an action taken report.

The XV-FC was constituted by the President in pursuance of clause (1) of article 280 of the Constitution, read with the provisions of the Finance Commission (Miscellaneous Provisions) Act, 1951 (33 of 1951) with NK Singh as the chairman, Shaktikanta Das, Dr Anoop Singh, Dr Ashok Lahiri and Dr Ramesh Chand as members and Arvind Mehta as secretary.

Subsequent to Shaktikanta Das demitting his office, Ajay Narayan Jha was appointed as a member.

The Commission has finalised their report after wide-ranging consultations with the Union and state governments, local governments at different tiers, chairmen and members of previous Finance Commissions, advisory council to the commission and other domain experts, academic institutions of eminence and multi-lateral institutions.

Image credit: PIB

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