15th Finance Commission concludes deliberations on 5-year report

The 15th Finance Commission (XV-FC), led by Chairman N K Singh, concluded its deliberations on the report for 2021-22 to 2025-26 on Friday.

Following this, the report was signed by the chairman, and other members of the commission -- Ajay Narayan Jha, Professor Anoop Singh, Dr Ashok Lahiri, and Dr Ramesh Chand, as per a release.

Meanwhile, the commission has sought time to present the report to the President whose office wants it to be presented on November 9. A copy of the same will also be presented to the Prime Minister later next month.

The report, pertaining to five financial years, along with an Action Taken Report of the Centre, will be tabled in the Parliament by the Union finance minister.

The commission finalised the report after wide-ranging consultations with the Centre, state governments, local governments at different tiers, chairmen and members of previous finance commissions, Advisory Council to the Commission and other domain experts, besides academic institutions of eminence and multi-lateral institutions.

The 15th 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).

Initially, present RBI governor Shaktikanta Das was also a member of the commission. Subsequent to Das demitting his office, Ajay Narayan Jha had been appointed as a member. Arvind Mehta was appointed as the Secretary.

( With inputs from ANI )