Dr. C. Rangarajan, Chair. Shri T.R Prasad, IAS (retired)
Was the chairman of the Twelfth Finance Commission appointed by the President?
The Twelfth Finance Commission (TFC) was appointed by President on 1st November 2002 under the Chairmanship of Dr. C. Rangarajan.
When was the 12th Finance Commission submitted?
1. The Twelfth Finance Commission was constituted by the President on November 1, 2002 to give recommendations on specified aspects of Center State fiscal relations during 2005-10. The Commission submitted its Report covering all aspects of its mandate on December 17, 2004.
Who appoints the chairman of the Finance Commission?
the President
The Finance Commission has a chairman and four members appointed by the President. The government of India provides necessary support and manpower including a secretary to the commission to facilitate its work.
What is the Article 280?
The Finance Commission is constituted by the President under article 280 of the Constitution, mainly to give its recommendations on distribution of tax revenues between the Union and the States and amongst the States themselves.
What are the recommendations of 14th Finance Commission?
The fourteenth finance commission is of the view that tax devolution should be the primary route of resources to the states. The commission recommends to increase the tax devolution of the divisible pool to states to 42% for years 2015 to 2020. This is 10% more compared to 32% target set by 13th financial commission.
What is the Article 143?
Article 143 of the Indian Constitution confers upon the Supreme Court advisory jurisdiction. The President may seek the opinion of the Supreme Court on any question of law or fact of public importance on which he thinks it expedient to obtain such an opinion.
What is Article 243 A?
Article-243 A. Gram Sabha. – A Gram Sabha may exercise such powers and perform such functions at the village level as the Legislature of a State may, by law, provide.
What is Panchayat finance commission?
A State Finance Commission reviews the financial position of the panchayats in a state and makes recommendations to the Governor about the principles that should govern the distribution of tax proceeds – taxes, duties, levies, toll fee collected by the state between the state and its Panchayati Raj Institutions at all …
Who is the chairman of 13 finance commission of India?
Vijay L. Kelkar
The Thirteenth Finance Commission of India was constituted by the [[President of India ]] under the chairmanship of Vijay L. Kelkar on 13 November 2007.
Who is the first finance commission chairman?
Shri K.C. Neogy
The First Finance Commission was constituted vide Presidential Order dated 22.11. 1951 under the chairmanship of Shri K.C. Neogy on 6th April, 1952. Fifteenth Finance Commissions have been Constituted so far at intervals of every five years.
Who is present finance Secretary of India?
T. V. Somanathan
Finance Secretary (India)
| Finance Secretary of India वित्त सचिव | |
|---|---|
| Incumbent T. V. Somanathan, IAS since 29 April 2021 | |
| Ministry of Finance | |
| Reports to | Parliament of India Council of Ministers of India Prime Minister of India Finance Minister of India Cabinet Secretary of India |
| Residence | New Moti Bagh, New Delhi, India |
The commission recommended to keep an aggregate corpus for all States of Rs. 61,219 crore for the five years based on the expenditure from the past years. The commission recommended all States to contribute 10 per cent and Union with the remaining 90 per cent.
Who was the head of the 12th Finance Commission?
The commission was headed by veteran economist of India, C. Rangarajan. The commission submitted its report on 30 November 2004 and covered the period from 2005-10. The members of the Commission were: The commission was asked to make recommendations on the following matters:
Who is the chairman of 15th Finance Commission?
15th Finance Commission chairman N K Singh. New Delhi: N K Singh, the newly appointed Chairman of the 15th Finance Commission, on Sunday said it is imperative for such a panel to examine implications of GST on finance of the Centre and states.
Who is the head of the Finance Commission in India?
The Finance Commissions (IAST: Vitta Āyoga) are commissions periodically constituted by the President of India under Article 280 of the Indian Constitution to define the financial relations between the central government of India and the individual state governments.
Who are the members of the Finance Commission?
Other members of the commission, which is required to submit its report by October 2019, are former economic affairs secretary Shaktikanta Das, former chief economic advisor Ashok Lahiri, Niti Aayog Member Ramesh Chand and Georgetown University professor Anoop Singh.
