New Delhi [India], The 16th Finance Commission on Wednesday invited suggestions/ideas from the general public, institutions and organizations on issues related to the allocation of resources between the Center and the states as well as the functioning of the Commission. Ministry of Finance, "The Commission has sought suggestions on the distribution of the income of taxes between the Union and the States which are to be, or may be, divided between them under Chapter I, Part XII of the Constitution and suggested on the allocation between The respective shares of the States of such income” “The principles which should govern the amounts to be paid by way of grants-in-aid to the States and the revenues of the Consolidated Fund of India”—the provisions of that article. subsidizing their revenues under Article 275 of the Constitution for purposes other than the purposes specified in clause (1) of the Notification further stated "The necessary measures to be taken by the Finance Commission of the State for increasing the Consolidated Fund of the State for the purpose of supplementing Resources of Panchayats and Municipalities in the State” based on the recommendations suggestions can be submitted through the 16th Finance Commission website (https://fincomindia.nic.in/portal/). Feedback
) Under the 'Call for Suggestions' section, the 16th Finance Commission was constituted by the President on 31 December 2023, with Dr. Arvind Panagariya as its Chairman. The Commission has been constituted to make recommendations for a period of five years starting from 01 April 2022.Additionally, the Commission has also been appointed to review the current arrangements on financing disaster management initiatives in terms of the Fund constituted under the Disaster Management Act, 2005. (53 of 2005), and make appropriate recommendations thereon. As per the recommendations of the 15th Finance Commission, the Center should allocate 41 per cent of the tax collections to the states. This is known as vertex evolution. The distribution, or horizontal transfer, among states is based on multiple criteria such as demographic performance, income, population, area, forest and ecology, taxes and measures to check fiscal deficit by individual states, retaining states with lower per capita income. gets a higher share for. Equity However, states have often complained that the actual transfer is less than the Finance Commission's recommendations due to cesses and surcharges imposed by the Centre.
) Under the 'Call for Suggestions' section, the 16th Finance Commission was constituted by the President on 31 December 2023, with Dr. Arvind Panagariya as its Chairman. The Commission has been constituted to make recommendations for a period of five years starting from 01 April 2022.Additionally, the Commission has also been appointed to review the current arrangements on financing disaster management initiatives in terms of the Fund constituted under the Disaster Management Act, 2005. (53 of 2005), and make appropriate recommendations thereon. As per the recommendations of the 15th Finance Commission, the Center should allocate 41 per cent of the tax collections to the states. This is known as vertex evolution. The distribution, or horizontal transfer, among states is based on multiple criteria such as demographic performance, income, population, area, forest and ecology, taxes and measures to check fiscal deficit by individual states, retaining states with lower per capita income. gets a higher share for. Equity However, states have often complained that the actual transfer is less than the Finance Commission's recommendations due to cesses and surcharges imposed by the Centre.
