the governor
Under Article 243-I of the Indian Constitution, the governor of a state ensures the laying of a State Finance Commission’s recommendations to the table of the state legislature.
Who is the chairman of the 11th Finance Commission?
A. M. Khusro
List of Finance Commissions
| Finance Commission | Year of establishment | Chairman |
|---|---|---|
| Eleventh | 1998 | A. M. Khusro |
| Twelfth | 2002 | C. Rangarajan |
| Thirteenth | 2007 | Dr. Vijay L. Kelkar |
| Fourteenth | 2013 | Dr. Y. V Reddy |
What is the period covered by the recommendation of the 12th Finance Commission?
2005-10
The commission submitted its report on 30 November 2004 and covered the period from 2005-10.
What are established 11th Financial Commission?
The Eleventh Finance Commission was constituted by the President on July 3, 1998 to give recommendations on specified aspects of Centre-State fiscal relations during 2000-2005. The Commission submitted its Report covering all aspects of its original mandate on 7th July, 2000.
Who was the first Finance Commission?
Shri K.C. Neogy
Ans. The First Finance Commission was constituted vide Presidential Order dated 22.11. 1951 under the chairmanship of Shri K.C. Neogy on 6th April, 1952.
How are the recommendations of Finance Commission implemented?
How are the recommendations of Finance Commission implemented? Those to be implemented by an order of the President: The recommendations relating to distribution of Union Taxes and Duties and Grants-in-aid fall in this category. Q.
Which is the latest Finance Commission?
The Fifteenth Finance Commission (XV-FC or 15-FC) is an Indian Finance Commission constituted in November 2017 and is to give recommendations for devolution of taxes and other fiscal matters for five fiscal years, commencing 2020-04-01.
Which Finance Commission is going on in India?
15th Finance Commission
The 15th Finance Commission submits its Report for 2021-22 to 2025-26 to the President of India – New Delhi, Dated 9th November, 2020.
What is Wagner hypothesis?
Wagner’s hypothesis states that there exists a positive relationship between state activities and public expenditure. Because of some ambiguity in its functional form, different versions of the hypothesis have come up in the existing literature.
Who Started government finance?
History. R. K. Shanmukham Chetty was the first Finance Minister of independent India. He presented the first budget of independent India on 26 November 1947.
Who is the first finance President of India?
R. K. Shanmukham Chetty
Minister of Finance (India)
| Minister of Finance Vitt Mantrī | |
|---|---|
| Member of | Cabinet Cabinet Committee on Security |
| Appointer | President on the advice of the Prime Minister |
| Inaugural holder | R. K. Shanmukham Chetty |
| Formation | 15 August 1947 |
What is the Eleventh Finance Commission?
The Eleventh Finance Commission was constituted on 3rd July, 1998 with the mandate to give its report by 31st December, 1999 covering the five year period 2000-2005.
What are the recommendations of the 14th Finance Commission?
Major Recommendations of 14th Finance Commission headed by Prof. Y V Reddy The share of states in the net proceeds of the shareable Central taxes should be 42%. This is 10 percentage points higher than the recommendation of 13th Finance Commission. Revenue deficit to be progressively reduced and eliminated.
How many Finance Commissions have been appointed so far?
So far 15 Finance Commissions have been appointed which are as follows: The share of states in the net proceeds of the shareable Central taxes should be 42%. This is 10 percentage points higher than the recommendation of 13th Finance Commission.
What was the second Finance Commission’s recommendation?
Unlike the First Finance Commission, the Second Finance Commission recommended unconditional grants. On the whole, the distribution made by the Second Commission was fair and just. The Third Finance Commission was set up in December 1960. 1. Of the net proceeds of income tax, 66 2 / 3 per cent should be distributed among the states. 2.
