Fifteenth Finance Commission

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The FifteenthTemplate:NbspFinance Commission (XV-FC or 15-FC) is an Indian Finance Commission constituted in November 2017 and is to give recommendations for devolution of taxes and other fiscal matters for fiveTemplate:Nbspfiscal years, commencing 2020-04-01. The commission's chairman is Nand Kishore Singh, a senior member of the Bharatiya Janata Party (BJP) since March 2014,[1] with its full-timeTemplate:Nbspmembers being Ajay Narayan Jha, Ashok Lahiri and Anoop Singh. In addition, the commission also has a part-timeTemplate:Nbspmember in Ramesh Chand.

Constitution

The FifteenthTemplate:NbspFinance Commission was constituted by the Government of India—after getting ceremonial approval from President of India—through a notification in The Gazette of India on 2017-11-27.[2][3] Nand Kishore Singh was appointed as the commission's chairman, with its full-time members being Shaktikanta Das and Anoop Singh and its part-time members being Ramesh Chand and Ashok Lahiri.[4][5][6]

The commission held its first meeting on 2017-12-04.[7][8][9][10] Lahiri was elevated to the status of a full-timeTemplate:Nbspmember in May 2018 and was accorded the status of a minister of state.[11][12] Das resigned as member on 11 December 2018,[13] to become the Governor of Reserve Bank of India.[14][15][16]

In July 2019, the commission's term was extended by a month to November 2019, and its terms of reference (ToR) were expanded by the Union Cabinet and asked it to consider whether "adequate, secure and non-lapsable" funds could be provided for funding defence and internal security, and how would a distinct system to fund defence and internal security be operationalised.[17][18] It was dissolved on 26 November 2023.

Members

Profile of members of the FifteenthTemplate:NbspFinance Commission
Template:Abbr Template:Center Template:Center Template:Center Template:Center
Template:Center Template:Center File:N. K. Singh - World Economic Forum on India 2012.jpg Template:Center Retired Indian Administrative Service (IAS) officer. Served as Union Revenue Secretary, Union Economic Affairs Secretary and Union Expenditure Secretary. Also served as a member of the erstwhile Planning Commission. Post-retirement, served as a member of the Parliament in the Rajya Sabha (Council of the States) for the state of Bihar. He has been a senior member of the Bharatiya Janata Party since March 2014.[19]
Template:Center Template:Center Template:Center An adjunct professor at Georgetown University, Washington, D.C. Also served as the International Monetary Fund's director of its Regional Office of Asia and the Pacific.
Template:Center Template:Center Former Chief Economic Adviser to the Government of India, director of the National Institute of Public Finance and Policy, executive director at the Asian Development Bank, reader at the Delhi School of Economics at the University of Delhi, and the chairperson of Bandhan Bank.
Template:Centre Template:Centre File:Ajay Narayan Jha, IAS addressing an event.jpg Retired IAS. Served as the Union Finance Secretary and Union Expenditure Secretary. He was appointed member of the commission in lieu of Das.
Template:Center Template:Center Template:Centre A member of the NITI Aayog, a fellow of National Academy of Agricultural Sciences and Indian Society of Agricultural Economics. Also served as the director of the National Institute of Agricultural Economics and Policy Research.
Notes

Extensions

The commission was to submit its Report on the basis of its Terms of Reference (ToR) by 30 October 2019 covering a period of five years commencing from 1 April 2020.[20]

In July 2019, The Union Cabinet chaired by Prime Minister Narendra Modi approved the extension of the term of Fifteenth Finance Commission up to 30 November 2019 to enable the commission to examine various comparable estimates for financial projections in view of reforms and the new realities to finalise its recommendations for the period 2020–2025, after taking into consideration, its constitution in the backdrop of various major fiscal/budgetary reforms introduced by the Union Government in the past four years like closure of the Planning Commission and its replacement by NITl Aayog, removal of distinction between Non-Plan and Plan expenditure, advancing the budget calendar by one month and passing of the full budget before commencement of the new financial year i.e. on 1 February, introduction of Goods and Services Tax (GST) from July 2017 and New FRBM architecture with debt and fiscal deficit path, and also the task of determining the expenditure and receipts of the Union and State governments based on which the Commission shall make its recommendations is time-consuming, as checks for data consistency across time and data sets become challenging.[21]

In November 2019, the Cabinet approved the 15th Finance Commission to submit first report for the first fiscal year viz. 2020-21 and to extend the tenure of 15th Finance Commission to provide for the presentation of the final report covering FYs 2021–22 to 2025-26 by 30 October 2020. The statement by the government cited reasons such as, due to restrictions imposed by the model code of conduct, the commission completed its visit to states only recently, which had a bearing on the detailed assessments of states requirements, comprehensively examining their implications and aligning them to the requirements of the states and the central government will require additional time, and making a five-year coverage available for the commission beyond 1 April 2021, will help both state and central governments design schemes with medium- to long-term financial perspective and provide adequate time for mid-course evaluation and correction.[22][23]

The first report, consisting of recommendations for the financial year 2020–21, was tabled in Parliament in February 2020.[24]

On 9 November 2020, the Fifteenth Finance Commission (XVFC) led by Chairman Sh N K Singh, submitted its report for the period 2021–22 to 2025–26 to the Hon'ble President of India.[25]

The final report with recommendations for the 2021-26 period was tabled in Parliament on 1 February 2021.[24]

Aims

The commission was set up to give recommendations for devolution of taxes and other fiscal matters for fiveTemplate:Nbspfiscal years, commencing 1Template:NbspAprilTemplate:Nbsp2020.[2][3] The main tasks of the commission were to "strengthen cooperative federalism, improve the quality of public spending and help protect fiscal stability".[26][27][28] Some newspapers like The Hindu and The Economic Times noted that commission's job was made harder because of the roll-out of goods and service tax (GST) regime in India, as, it had taken certain powers concerning taxation away from the union and the states, and, had given them to the newly formed GST Council.[29][30] The peer-reviewed journal, Economic and Political Weekly, further noted that even after the passage of the Fiscal Responsibility and Budget Management Act, 2003, some states still incur revenue deficits, so, the commission would have to either recommend the disbandment of revenue deficit grants, or, would have to recommend ways for further fiscal consolidation.[31]

The commission's chairman, N. K. Singh, said that the commission would need to define populism, as, the commission's terms of reference (ToR) had a provision for rewarding states which were successful in eliminating or reducing expenditure incurred on populist schemes.[32][33][34][35] Singh added that the commission would need to reappraise the formula of devolution of revenue through the union's taxes, because of a provision in its ToR.[36][37][38] Singh further said, in a lecture to Indian Institute of Management Ahmedabad students, that one of the commission's challenges was to find a balance between equity and efficiency,[39] adding that urban and rural local bodies—the constitutionally-mandated third-tier of government in India—needed to be further empowered to stimulate added economic growth.[40]

Chief Economic Adviser to the Government of India, Arvind Subramanian, said that the commission may need to function like the first finance commission because of an increased decentralisation and change in India;[41][42][43] further suggesting to divide the tax devolution system into fourTemplate:NbsppotsTemplate:Snd"return", "redistribution", "risk sharing" and "reward",[41][43] while also saying that tax devolution was no more a north–south issue.[42][43] However, Subramanian's ideas were opposed by Pinaki Chakraborty, a professor at the National Institute of Public Finance and Policy, and a member of the FifteenthTemplate:NbspFinance Commission's advisory council, who said that having a division of tax devolution into fourTemplate:Nbsppots would violate "the objective of offsetting revenue disabilities."[44]

The commission's chairperson, N. K. Singh, said in April 2019 that there should be mechanisms through which the Finance Commissions and the GST Council could coordinate to "ensure there are multiplier benefits of a higher growth trajectory".[45]

Demands

At its first interaction with members of parliament (MPs),[46] the commission was asked by some MPs to recommend a plan on compensating states which suffered revenue losses after the roll-out of GST.[47] Some parliamentarians also asked the commission to reassess the criteria of classifying a state as 'backwards'.[48][49]

The president of Nationalist Congress Party, Sharad Pawar, suggested the commission to create a financial buffer against oil prices.[50] Whereas, the chief minister of Bihar and Janata Dal (United) president and convener, Nitish Kumar—in a letter to the commission's chairman, N. K. Singh—asked the commission to revisit the criterion of the target of a maximum 3%Template:Nbspfiscal deficit under the Fiscal Responsibility and Budget Management Act, 2003, calling it "iniquitous".[50] Singh added, that the state was still waiting for special financial allocations promised to it under the Bihar Reorganisation Act, 2000.[50]

The commission, on its visit to the state, was asked by the Government of West Bengal to look into restructuring the state's debt, so that it does not become "a permanent drag on the economy of Bengal";[51][52] the state's chief minister and All India Trinamool Congress chairperson, convener and president, Mamata Banerjee, said in a press conference, that "we expect that Finance Commission will consider our demand for debt restructuring or waiver".[51][52] West Bengal government further suggested an alternative devolution formula based on factors like social backwardness, locational complexities and continuation of revenue deficits to the commission.[53]

The commission was asked by several state governments to increase states' share in union's tax devolution from the existing 42Template:Nbsp perTemplate:Nbspcent to 50Template:NbspperTemplate:Nbspcent.[52][54][55][56] Whereas, the Government of India asked the commission to review a 10Template:NbspperTemplate:Nbspcent hike from 32Template:Nbspper cent to 42Template:NbspperTemplate:Nbspcent in tax devolution given to states by the FourteenthTemplate:NbspFinance Commission,[56][57][58] with Union Minister of Finance, Arun Jaitley, saying that "India is a Union of states, the Union also has to survive".[57][59]

Working

File:Fifteenth Finance Commission meeting.jpg
A meeting of the FifteenthTemplate:NbspFinance Commission, attended by its chairperson, members, secretary and other staffers; Template:Circa

The commission visited several states, and held meetings with senior political and non-political state government officials of different states;[60][52][54][61] most states also generally submitted a memorandum to the commission outlining their needs and demands to the panel.[60][52][54][61] It also met with representatives of the industry and bankers.[62][63] Das acted as chairman of the commission in state visits without Singh.[60] The commission further met with the representatives of various federal government agencies, including the vice-chairman and chief executive officer of its quasi-autonomous policy think-tank, the NITI Aayog, Rajiv Kumar and Amitabh Kant respectively.[64]

The commission was headquartered in New Delhi at the Jawahar Vyapar Bhawan on Tolstoy Marg and its offices were provided security cover by the Central Industrial Security Force.[65][66]

In July 2019, the commission's term was extended by a month to November 2019, and its terms of reference (ToR) were expanded by the Union Cabinet and asked it to consider whether "adequate, secure and non-lapsable" funds could be provided for funding defence and internal security, and how would a distinct system to fund defence and internal security be operationalised.[17][18]

Advisory bodies

Advisory council

The commission constituted an advisory council "to advise it on matters related to its terms of reference".[67][68][69] The council consisted of president of Forum for Strategic Initiatives and former Chief Economic Adviser to the Government of India, Arvind Virmani; Oxus Research and Investments chairman and a part-time member of the Prime Minister's Economic Advisory Council, Surjit Bhattal; a former deputy director in the IMF, Sanjeev Gupta; a professor at the National Institute of Public Finance and Policy, Pinaki Chakraborty; JP Morgan chief India economist, Sajjid Chinoy; and a managing director and India economist and strategist at Credit Suisse, Neelkanth Mishra.[67][68][69]

Chief Economic Adviser to the Government of India, Krishnamurthy Subramanian, was inducted as a member of the advisory council in May 2019.[70][71]

High-level group

Template:Multiple image

Further, the commission also constituted a high-level group to inter alia advise it on "ways and means to" make effective use of the "existing financial resources and to" encourage "the state governments' effort on" fulfilling "well-defined health parameters in India".[72][73] The group comprised All India Institute of Medical Sciences, New Delhi director, Randeep Guleria as its convener and Narayana Health City chairman, Devi Shetty; Maharashtra University of Health Sciences vice-chancellor, Deelip Govind Mhaisekar; chairman, managing director and chief cardiac surgeon of Medanta Health City, Naresh Trehan; professor and head of department of cardiothoracic surgery at R. G. Kar Medical College and Hospital, Bhabatosh Biswas; and president of Public Health Foundation of India, K. Srinath Reddy as its members.[72][73]

Criticism

South India penalised for population control

File:T. M. Thomas Isaac.jpg
Finance minister of Kerala, T. M. Thomas Isaac was a major opponent of the Fifteenth Finance Commission's terms of reference

Politicians—including chief ministers and finance ministers—; retired civil servants; judges; and economists from South Indian states opposed the commission's terms of reference,[74][75][76][77] as, it used the data of [[2011 Census of India|2011Template:Nbspcensus]], instead of the data of 1971Template:Nbspcensus, as previous commissions had.[78][79][80] South Indian states believes that this would dilute the share of South India in the pool of union's tax revenue, because of its progressive measure in population control vis-à-vis the north since 1971.[81][82][83][84][85] Kerala finance minister, T. M. Thomas Issac, proposed a meeting of finance ministers of the tenTemplate:Nbspstates and union territories to discuss the commission's ToR.[86][87][88][89] In response, Subhash Chandra Garg, Union Economic Affairs Secretary, said that the terms of reference were balanced and were "not oneTemplate:Nbspway or the other", adding that according to the second provision of the ToR, states with a good total fertility rate—especially, the ones which had reached the replacement rate (2.1Template:Nbspchildren perTemplate:Nbspwoman)—would be incentivised.[90][91][92] Garg's views were reiterated by the nation's finance minister and Bharatiya Janata Party (BJP) Rajya Sabha leader, Arun Jaitley, who—in a Facebook post—said that the row over the commission's terms of reference was "needless" and could not have been "further from the truth".[93][94] Prime minister and BJP Lok Sabha leader, Narendra Modi, said that vested interests were behind the allegations that the commission's terms of reference being biased against certain states and union territories and called such allegations "baseless".[95][96]

Finance ministers of the states of Karnataka, Kerala and Andhra Pradesh and the finance minister of the Union Territory of Puducherry met at a conclave in Kerala's capital, Thiruvananthapuram, in April 2018 and collectively denounced the commission's terms of reference, calling them to be in contradiction with the principles of federalism.[97][98] FiveTemplate:Nbspstate and twoTemplate:Nbspunion territory finance ministers met in Andhra Pradesh's capital, Amaravati, and drafted a memorandum to the president, Ram Nath Kovind, seeking changes in the commission's terms of reference.[99][100] The group of finance ministers eventually met the president on 2018-05-17.[101]

In July 2018, the vice president, Venkaiah Naidu—in his capacity as the chairman of Rajya Sabha—asked the commission's chairman, N. K. Singh, if certain states would be penalised with the use of 2011Template:Nbspcensus and was ensured by Singh that performing and progressive states would not be penalised by the commission.[102]

Classification of Delhi

Aam Aadmi Party (AAP) convener and the chief minister of Delhi, Arvind Kejriwal, criticised the commission for treating the National Capital Territory of Delhi neither as a state nor as a union territory (UT), saying that the Delhi government deserved a Template:INRConvert grant from the union government if it qualified as a UT in the commission's eyes,[103][104][105] else it deserved more devolution of union government's tax revenue as a state.[103][104][105] Kejriwal added that the Government of Delhi would move to the Supreme Court of India on the matter.[103][104][105] AAP national executive and political affairs committee member and Delhi deputy chief minister and finance minister, Manish Sisodia said that the terms of reference of the commission were "unfair";[106][107] Sisodia was a part of the group of state and union territory finance ministers who met with the president.[101] In addition, AAP national joint secretary, Akshay Marathe said—citing Central Board of Direct Taxes figures—that the National Capital Territory of Delhi contributed as much as Template:INRConvert—or 13Template:NbspperTemplate:Nbspcent—of the nation's direct tax revenue and got around Template:INRConvert from the Government of India in return.[108]

Others

Jammu and Kashmir finance minister, economist and Jammu and Kashmir Peoples Democratic Party member, Haseeb Drabu, said, in an editorial in Livemint commented that the commission's ToR were outdated, and needed to be redrafted "to make the 15thTemplate:NbspFinance Commission a "secondTemplate:Nbspgeneration" commission".[109]

References

  1. ↑ Elections 2014: MJ Akbar, NK Singh join BJP | Zee News. Zeenews.india.com(2014-03-23). Retrieved 2017-11-23.
  2. ↑ 2.0 2.1 S.O. 3755(E).—The following order made by the President is to be published for general information:— ORDER. The Gazette of India. Department of Economic Affairs, Government of India(27 November 2017). Retrieved 20 January 2018.
  3. ↑ 3.0 3.1 Constitution of Fifteenth Finance Commission Notified. Press Information Bureau of India(27 November 2018). Retrieved 20 January 2018.
  4. ↑ N.K. Singh heads 15th Finance Commission, Shaktikanta Das a member. Business Standard(27 November 2017). Retrieved 17 December 2018.
  5. ↑ NK Singh appointed Chairman of 15th Finance Commission. Business Line(27 November 2017). Retrieved 17 December 2018.
  6. ↑ N.K. Singh appointed chairman of 15th Finance Commission. Livemint. Vivek Khanna(27 November 2017). Retrieved 17 December 2018.
  7. ↑ First Meeting of the Fifteenth Finance Commission, North Block, New Delhi. Finance Commission of India(4 December 2017). Retrieved 20 January 2018.
  8. ↑ 15th Finance Commission to hold first meeting today, Mishra, Asit Ranjan. Livemint. HT Media Ltd(2017-12-03). Retrieved 20 January 2018.
  9. ↑ 15th Finance Commission holds first meeting. Business Line. The Hindu Group(4 December 2017). Retrieved 20 January 2018.
  10. ↑ 15th Finance Commission holds first meeting, seeks academic inputs from leading think-tanks – Firstpost. Firstpost(4 December 2017). Retrieved 31 March 2018.
  11. ↑ Ashok Lahiri appointed full-time member of 15th Finance Commission. Business Standard(3 May 2018). Retrieved 31 July 2018.
  12. ↑ Ashok Lahiri full-time member of fin panel. The Tribune(4 May 2018). Retrieved 17 December 2018.
  13. ↑ Acceptance of resignation of Shri Shaktikanta Das-Member, FFC. Department of Economic Affairs, Ministry of Finance, Government of India(11 December 2018). Retrieved 16 December 2018.
  14. ↑ Shaktikanta Das, who oversaw demonetization, is new RBI governor. Livemint. Vivek Khanna(11 December 2018). Retrieved 12 December 2018.
  15. ↑ Shaktikanta Das Is New RBI Governor. BloombergQuint(11 December 2018). Retrieved 11 December 2018.
  16. ↑ Shaktikanta Das: The man behind GST, note ban now heads RBI. The Economic Times(11 December 2018). Retrieved 11 December 2018.
  17. ↑ 17.0 17.1 Cabinet asks finance panel to consider securing funds for defence. The Indian Express. Indian Express Group(18 July 2019). Retrieved 4 August 2019.
  18. ↑ 18.0 18.1 Cabinet approves Amendment in the Terms of Reference for the Fifteenth Finance Commission. Business Standard(2019-07-17). Retrieved 2019-08-04.
  19. ↑ Elections 2014: MJ Akbar, NK Singh join BJP. Zee News. Zee Media Corporation Limited(23 March 2014). Retrieved 3 April 2018.
  20. ↑ Cabinet approves extension of the term of the Fifteenth Finance Commission up to 30th November, 2019. pib.gov.in. Retrieved 2021-11-27.
  21. ↑ Cabinet approves extension of the term of the Fifteenth Finance Commission up to 30th November, 2019. pib.gov.in. Retrieved 2021-11-27.
  22. ↑ Cabinet extends term of 15th Finance Commission. The Hindu(2019-11-27). Retrieved 2021-11-27.
  23. ↑ Cabinet extends term of 15th Finance Commission. The Economic Times. Retrieved 2021-11-27.
  24. ↑ 24.0 24.1 Committee Reports. PRS Legislative Research. Retrieved 2021-11-27.
  25. ↑ The 15th Finance Commission submits its Report for 2021-22 to 2025-26 to the President of India. pib.gov.in. Retrieved 2021-11-27.
  26. ↑ Finance Commission's changing roles, challenges over the years. The Indian Express(2 November 2017). Retrieved 30 March 2018.
  27. ↑ The tasks for the 15th Finance Commission. Livemint. HT Media Ltd(6 December 2017). Retrieved 20 January 2018.
  28. ↑ Agenda for 15th Finance Commission. Business Standard(30 October 2017). Retrieved 26 March 2018.
  29. ↑ New India formula? — on the 15th Finance Commission. The Hindu(6 December 2017). Retrieved 26 March 2018.
  30. ↑ The challenges before 15th Finance Commission are many. The Economic Times(4 January 2018). Retrieved 26 March 2018.
  31. ↑ Challenges before the Fifteenth Finance Commission. Economic and Political Weekly({Template:Date).
  32. ↑ On 'populist steps', tricky mandate for new Finance Commission. The Indian Express(8 December 2017). Retrieved 30 March 2018.
  33. ↑ Now, Finance Commission to define what constitutes 'populism'. The New Indian Express(1 March 2018). Retrieved 2018-03-27.
  34. ↑ 15th Finance Commission will need to define 'populism', says chairman. Business Standard(28 February 2018). Retrieved 27 March 2018.
  35. ↑ 15th Finance Commission will need to define populism: Chairman NK Singh. The Economic Times(28 February 2018). Retrieved 27 March 2018.
  36. ↑ 15th finance commission to review tax devolution formula. Livemint(1 March 2018). Retrieved 27 March 2018.
  37. ↑ Tax devolution to States remains challenge for 15th Finance Commission, too. Business Line(28 February 2018). Retrieved 27 March 2018.
  38. ↑ Finance Commission to study use of cess as a revenue raising tool. The Indian Express(1 March 2018). Retrieved 27 March 2018.
  39. ↑ Fiscal challenges include balancing equity with efficiency. The Times of India(23 July 2018). Retrieved 31 July 2018.
  40. ↑ For growth, local bodies need to be empowered. The Indian Express(23 July 2018). Retrieved 31 July 2018.
  41. ↑ 41.0 41.1 Arvind Subramanian: If this were the First Finance Commission!. Business Standard(23 July 2018). Retrieved 21 August 2018.
  42. ↑ 42.0 42.1 Tax contribution, sharing no more a north-south issue: Arvind Subramanian. Business Standard(20 July 2018). Retrieved 21 August 2018.
  43. ↑ 43.0 43.1 43.2 15th Finance Commission may need to work like it's the first: Subramanian. Business Standard(21 July 2018). Retrieved 21 August 2018.
  44. ↑ Finance Commission Transfers: The Subramanian formula is flawed. The Financial Express(14 August 2018). Retrieved 21 August 2018.
  45. ↑ There should be a mechanism by which GST Council and Finance Commission can coordinate: N.K. Singh, Mehra, Puja. The Hindu Centre for Politics and Public Policy. The Hindu Group(26 April 2019). Retrieved 10 May 2019.
  46. ↑ 15th Finance Commission initiates Template:As written meets MPs. Business Standard(14 March 2018). Retrieved 28 March 2018.
  47. ↑ Bring roadmap for GST compensation to states, MPs urge Finance Commission. Business Standard(14 March 2018). Retrieved 27 March 2018.
  48. ↑ Revisit criteria of backward states, MPs tell finance panel. The Tribune(14 March 2018). Retrieved 28 March 2018.
  49. ↑ MPs suggest relook at processes, methods of looking backwardness of a State. United News of India(14 March 2018). Retrieved 28 March 2018.
  50. ↑ 50.0 50.1 50.2 15th Finance Commission gets long wish list. The Hindu(1 April 2018). Retrieved 3 April 2018.
  51. ↑ 51.0 51.1 Finance Commission takes note of Bengal's debt restructure demand. Millennium Post(17 July 2018). Retrieved 31 July 2018.
  52. ↑ 52.0 52.1 52.2 52.3 52.4 Taken serious note of West Bengal's debt overhang: 15th Finance Commission. The Financial Express(17 July 2018). Retrieved 31 July 2018.
  53. ↑ Bengal suggests alternative devolution formula to Finance Commission. Business Standard(18 July 2018). Retrieved 31 July 2018.
  54. ↑ 54.0 54.1 54.2 15th Finance Commission not against states: Mr N K Singh. Deccan Chronicle(30 May 2018). Retrieved 1 August 2018.
  55. ↑ Gujarat asks FinComm to hike state share in central tax pool to over 50%. Business Standard(23 July 2018). Retrieved 31 July 2018.
  56. ↑ 56.0 56.1 Gujarat opposes Modi government's proposal to reduce states' share of central taxes. Livemint(30 July 2018). Retrieved 21 August 2018.
  57. ↑ 57.0 57.1 15th finance panel to review 42% allocation to states. The Times of India(28 November 2018). Retrieved 18 August 2018.
  58. ↑ Increase in share of central taxes to states to be reviewed. Deccan Chronicle(24 February 2018). Retrieved 18 August 2018.
  59. ↑ Cabinet approves setting up of 15th Finance Commission. The Economic Times(23 November 2018). Retrieved 18 August 2018.
  60. ↑ 60.0 60.1 60.2 Finance Commission has nothing to do with fixing terms of reference: Shaktikanta Das. The Economic Times(6 April 2018). Retrieved 1 August 2018.
  61. ↑ 61.0 61.1 Don't worry, Tamil Nadu will get due attention, says Fifteenth Finance Commission panel chairman N K Singh. The New Indian Express(20 April 2018). Retrieved 1 August 2018.
  62. ↑ Biz bigwigs seek better road links, power supply. The Telegraph(4 August 2018). Retrieved 20 August 2018.
  63. ↑ 15th Finance Commission to hold meeting with RBI Governor, bankers tomorrow. Livemint. Vivek Khanna(7 May 2019). Retrieved 10 May 2019.
  64. ↑ 15th Finance Commission Chairman holds productive meeting with NITI Aayog Chairman & CEO. DD News. Prasar Bharti(28 July 2018). Retrieved 20 August 2018.
  65. ↑ CISF takes over security of 15th Finance Commission office. Business Standard(8 August 2018). Retrieved 21 August 2018.
  66. ↑ CISF takes over security of 15th Finance Commission Office. United News of India(8 August 2018). Retrieved 21 August 2018.
  67. ↑ 67.0 67.1 Centre sets up Advisory Council to assist Finance Commission. The Week(9 May 2018). Retrieved 31 July 2018.
  68. ↑ 68.0 68.1 Fifteenth Finance Commission constitutes an Advisory Council to advise on the matters related to its Terms of Reference. Business Standard(11 May 2018). Retrieved 31 July 2018.
  69. ↑ 69.0 69.1 Finance Commission sets up experts panel for Template:As written on its ToR. Business Line(9 May 2018). Retrieved 31 July 2018.
  70. ↑ Chief Economic Advisor Krishnamurthy Subramanian appointed as member of Advisory Council of 15th Finance Commission. Business Standard(3 May 2019). Retrieved 10 May 2019.
  71. ↑ CEA K Subramanian joins Finance panel's advisory council. The Quint(3 May 2019). Retrieved 10 May 2019.
  72. ↑ 72.0 72.1 Fifteenth Finance Commission constitutes a High Level Group to examine the strengths and weaknesses for enabling balanced expansion of Health Sector. Press Information Bureau, Government of India(24 May 2018). Retrieved 31 July 2018.
  73. ↑ 73.0 73.1 Finance Commission constitutes HLG to examine strengths, weaknesses of Health Sector. United News of India(24 May 2018). Retrieved 31 July 2018.
  74. ↑ 'Finance panel's terms of reference undemocratic', says Kerala Finance Minister. The Hindu(30 March 2018). Retrieved 31 March 2018.
  75. ↑ All Southern States Would Be The Biggest Losers Under The New Finance Commission That Distributes Tax Revenue. Outlook(26 March 2018). Retrieved 27 March 2018.
  76. ↑ CM Siddaramaiah slams Modi govt over fund allocation to southern states under 15th Finance Commission, Dwarakanath, Nagarjun. India Today(23 March 2018). Retrieved 26 March 2018.
  77. ↑ 15th Finance Commission unfair to Southern States: Andhra Pradesh Finance Minister Yanamala Ramakrishnudu. The New Indian Express(2 April 2018). Retrieved 3 April 2018.
  78. ↑ Call for southern States to unite. The Hindu(27 March 2018). Retrieved 27 March 2018.
  79. ↑ Why Punish Us For Controlling Population, Enraged Southern States Ask. NDTV(28 March 2018). Retrieved 30 March 2018.
  80. ↑ Southern states unite against Centre on fund allocation disparity. The Week(23 March 2018). Retrieved 26 March 2018.
  81. ↑ Why South Indian states are objecting to Finance Commission's mandate. Livemint(30 March 2018). Retrieved 31 March 2018.
  82. ↑ The Hindu explains: why the 15th Finance Commission has some States riled. The Hindu(29 March 2018). Retrieved 31 March 2018.
  83. ↑ Centre's Tax Allocation Disparity Unites South Against the North. News18(23 March 2018). Retrieved 26 March 2018.
  84. ↑ North-South tussle over 15th Finance Commission, govt should seek measures to bridge gap, not widen it, Nageshwar, K.. Firstpost(23 March 2018). Retrieved 26 March 2018.
  85. ↑ Southern States Oppose New Yardstick In 15th Finance Commission. NDTV(23 March 2018). Retrieved 26 March 2018.
  86. ↑ A southern discontent. The Indian Express(30 March 2018). Retrieved 30 March 2018.
  87. ↑ T.N. yet to decide on FMs' meet. The Hindu(28 March 2018). Retrieved 30 March 2018.
  88. ↑ Devolution of taxes: It's north vs south. The Economic Times(27 March 2018). Retrieved 30 March 2018.
  89. ↑ Modi Government trying to curtail independent functioning of states: Finance Minister Thomas Isaac. The New Indian Express(25 March 2018). Retrieved 29 March 2018.
  90. ↑ Centre justifies use of 2011 census for funds allocation, responds to south discontent. The News Minute(26 March 2018). Retrieved 26 March 2018.
  91. ↑ 15th Finance Commission is very balanced: Garg. Business Line(26 March 2018). Retrieved 26 March 2018.
  92. ↑ Does Finance Commission ToR hurt interest of South India: DMK fears allayed. Business Standard(1 March 2018). Retrieved 27 March 2018.
  93. ↑ 15th Finance Commission: Needless row over terms of reference, says Jaitley. The Hindu(10 April 2018). Retrieved 1 August 2018.
  94. ↑ Controversy over 15th Finance Commission is 'needless', asserts Jaitley. Business Standard(11 April 2018). Retrieved 1 August 2018.
  95. ↑ Divided we fall: on the 15th Finance Commission. The Hindu(14 April 2018). Retrieved 1 August 2018.
  96. ↑ Modi rejects allegations of southern states over 15th Finance Commission. Business Standard(12 April 2018). Retrieved 18 August 2018.
  97. ↑ 'Terms Of Reference' Of 15th Finance Commission Against Progressive States. Bloomberg Quint(10 April 2018). Retrieved 1 August 2018.
  98. ↑ Four southern govts say terms of reference of 15th Finance Commission unfair: Meet brings back North versus South debate. Firstpost(11 April 2018). Retrieved 1 August 2018.
  99. ↑ Census choice: Non-BJP state Finance Ministers against 15th Finance Commission terms. The Financial Express(8 May 2018). Retrieved 1 August 2018.
  100. ↑ 15th Finance Commission: Where Centre and states stand. Business Standard(14 May 2018). Retrieved 1 August 2018.
  101. ↑ 101.0 101.1 ToR of 15th Finance Commission: Ministers of five states meet President Ram Nath Kovind, urge amendment to terms. Firstpost. Network 18(17 May 2018). Retrieved 1 August 2018.
  102. ↑ Performing states not to be penalised by 15th Finance Commission: Naidu. The Economic Times(18 July 2018). Retrieved 1 August 2018.
  103. ↑ 103.0 103.1 103.2 Will move court for more funds from Centre: Kejriwal. The Hindu(5 April 2018). Retrieved 5 April 2018.
  104. ↑ 104.0 104.1 104.2 Will move court for 'due share' in central taxes revenue, says CM Arvind Kejriwal. The Financial Express(5 April 2018). Retrieved 5 April 2018.
  105. ↑ 105.0 105.1 105.2 AAP govt to move SC for Delhi's share in revenue distribution from Centre. The Statesman(5 April 2018). Retrieved 5 April 2018.
  106. ↑ Sisodia to meet Prez over 'unfair' reference terms of 15th Finance Commission. Business Standard(17 May 2018). Retrieved 1 August 2018.
  107. ↑ Delhi finance minister to meet President for greater share in central taxes. The Times of India(16 May 2018). Retrieved 1 August 2018.
  108. ↑ Delhi gets little from central funds: Will 15th Finance Commission be fair?. The Wire(25 May 2018). Retrieved 1 August 2018.
  109. ↑ 15th Finance Commission: Mandate sans Mission. Livemint(27 February 2018). Retrieved 21 August 2018.

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