Finance Commission Current Affairs, GK & News

Finance Commission

February 24, 2016

Finance Commission of India is established by President of India as per Article 280 of the constitution. The first finance commission was established in 1951. The Constitutional requirement for setting up a Finance Commission in India was an original idea, not borrowed from anywhere. That is why it is called the original contribution. Article 280 ..

Centre allows 11 states to borrow Rs 15721 crore from market

September 14, 2021

Central government has allowed 11 states to borrow an additional fund of Rs 15,721 crore from the market, because they achieved the capital expenditure target that finance ministry had set for June quarter the fiscal year 2021-22. Highlights States that have been allowed to borrow include- Andhra Pradesh, Bihar, Chhattisgarh, Haryana, Kerala, Madhya Pradesh, Manipur, ..

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Post Devolution Revenue Deficit Grant

May 18, 2021

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 ..

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Jal Jeevan Mission: State-Wise Planning Exercise started for 2021–22

April 9, 2021

The Ministry of Jal Shakti recently announced that it is to roll out annual planning exercise with the States and Union Territories. What is the plan? The exercise is to be conducted by a committee chaired by the Secretary of Department of Drinking Water and Sanitation. The Committee will take up two states or Union ..

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Atal Innovation Mission, CIPS join hands for Innovation in Public System

April 7, 2021

The Atal Innovation Mission, Centre for Innovations in Public Systems (CIPS) and NITI Aayog recently announced collaboration to reinforce entrepreneurship and innovation ecosystem in India. What is the plan? The CIPS and Atal Innovation Mission signed a Statement of Intent to promote innovation in the area of public system. This is to be achieved with ..

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Fifteenth Finance Commission Report: Key Highlights

November 9, 2020

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 ..

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