15th Finance Commission report likely on November 9

15th Finance Commission report likely on November 9; committee to include fiscal consolidation roadmap for govt

This time around Covid-19 is expected a major bearing on its report and the commission is likely to recommend measures to shore up health infrastructure in states

Amid strained Centre and state relations over GST compensation cess issue, the 15th Finance Commission, which decides on the devolution of resources to states from the Centre, is set to submit its report to President Ram Nath Kovind on November 9.

The report is significant as the commission has deliberated in detail over health, education issues amid the pandemic. The Commission’s recommendations for the next five years from 2021-2026 are, however, unlikely to be made public anytime soon and maybe tabled in the Parliament along with the 'action taken' report by the government along with the Union Budget on February 1.

"The commission has finalised report after wide-ranging consultations with the Union and state governments, local governments at different tiers, chairmen and members of previous finance commissions, an advisory council to the commission and other domain experts, academic institutions of eminence and multi-lateral institutions," a statement by the commission, said.

In its first report, the commission had cut resource allocations to states to 41% of the divisible pool of central taxes from 42% earlier after Jammu & Kashmir and Ladakh were made union territories.

This time around Covid-19 is expected a major bearing on its report and the commission is likely to recommend measures to shore up health infrastructure in states.

Anoop Singh had earlier said that the commission will address the issue of pandemic and related issues that the economy is likely to face in the post-Covid reconstruction.

Members of the commission include former finance secretary A N Jha, former chief economic adviser Ashok Lahiri, NITI Aayog member Ramesh Chand and former Asia and Pacific director at the International Monetary Fund Anoop Singh.

The 15th Finance Commission for the first time will come up with a fiscal consolidation roadmap for general government.