15th Finance Commission Current Affairs, GK & News
Post Devolution Revenue Deficit Grants are provided to the States under Article 275 of the Constitution. Near about a third of the total revenue collected by the Centre is directly transferred to states as their share in the divisible pool. However, the Finance Commission also provides a mechanism for compensation of any loss incurred by ..
The Fifteenth Finance Commission of India have submitted its final report fir a five-year duration. The report has been submitted with the objective of transforming the financial governance of India’s municipalities. Background The interim report for Financial Year 2020-21 was tabled in Parliament along with Budget 2020-21. The final report for Financial Year 2021-22 to ..
The Department of Expenditure of Ministry of Finance has recently released Rs 12,351 crore to 18 States in order to provide grants to the Rural Local Bodies. Highlights The amount is the 2nd instalment of basic grants released in the current financial year. The grant has been released after the states provided the Utilisation Certificate ..
Category: Economy & Banking Current Affairs
The Fifteenth Finance Commission headed by N K Singh is to submit its report the President of India. Key Recommendations The recommendations made by the commission are as follows The Commission has recommended that the states shall get 41% of central tax revenues. Earlier, the fourteenth Finance Commission had recommended 42%. 4.3 lakh crores for ..
Category: Reports & Indexes Current Affairs
On November 2, 2020, the Government of India released Rs 2,200 crores to 15 states to improve Air Quality Measures. The air quality improvement measures are to be executed in more than million plus cities. Highlights The amount was released based on the recommendations of the Fifteenth Finance Commission. The fund will help states undertake ..