The 15th Finance Commission has been constituted on Monday with N.K. Singh, a former Member of Parliament and former Secretary to the Government of India as Chairman.
"The Government of India, with the approval President of India, has constituted Fifteenth Finance Commission in pursuance of clause (1) of article 280 of the Constitution, read with the provisions of the Finance Commission (Miscellaneous Provisions) Act, 1951 with effect from 27th November, 2017," the Ministry of Finance said in a statement.
The Commission will make recommendations for the five years commencing on April 1, 2020.
The members of the Commission include Shaktikanta Das, former Economic Affairs Secretary and Dr. Anoop Singh, Adjunct Professor, Georgetown University.
Dr. Ashok Lahiri, Chairman (Non-executive, part time), Bandhan Bank and Dr. Ramesh Chand, Member, NITI Aayog shall be the Part time members of the Commission.
Arvind Mehta will be the Secretary to the Commission.
"The Commission will recommend devolution of shareable central taxes to the States and their inter-state distribution. Commission will also review several important aspects of federal fiscal finance," Subhash Chandra Garg, Economic Affairs Secretary tweeted.
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