Fourth finance commission constituted

The State government on Tuesday constituted the fourth Finance Commission to recommend measures for improving the financial condition of the local bodies.

The commission will be headed by C G Chinnaswamy with H D Amaranathan and H Shashidhar as its members. The commission will review the financial positions of the zilla panchayats, taluk panchayats, gram panchayats and other local bodies and recommend measures to improve their finances, according to an official release.

The commission will look into the principles that govern the local bodies, their taxes, duties and tolls. It will also make recommendations to the government on the grant-in-aid to the elected bodies from the consolidated fund of the State. It will make a detailed analysis on the repayment of loans and advances extended by the government to the local bodies, the release added. The commission has to submit its report before May 31, 2016.

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