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Extension to 15th Finance Commission
July 18 , 2019
1987 days
843
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- Union Cabinet chaired by Prime Minister Narendra Modi has approved extension of term of 15th Finance Commission (FC) up to 30 November 2019.
- The government has also broadened the ambit of FC’s recommendation to include funds for defence and internal security.
- Extension is given due to various fiscal and budgetary reforms introduced between 2014-19.
About
- The 15th Finance Commission was constituted by Presidential Order on November 2017 under the Chairmanship of K. Singh.
- It will decide formula for devolution of revenue/funds between Centre and States, for a 5-year period between April 2020 to March 2025.
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