Tenure of finance panel is extended

The Centre, on Thursday, extended the term of 13th Finance Commission (TFC) by three months — up to January 31, 2010 — and asked the commission to submit its report by December-end as against the earlier deadline of October 31.

The TFC, was mandated to look into likely impact of proposed GST and need for improving the quality of government expenditure.

“The commission sought an extension as it could not complete its deliberations on account of the general elections and assembly polls,” Information and Broadcasting Minister Ambika Soni said.

The recommendations of the TFC will cover the period of five years from 2010-11 to 2014-2015.

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