English Release 31-October 2014
- President's Secretariat
- Education will be the single biggest transformative factor in catapulting India into the league of developed nations, says President
- President of India congratulates Pankaj Advani on achieving 12th world title in Leeds
- President pays floral tributes to Sardar Vallabhbhai Patel
- Prime Minister's Office
- Text of PM’s address at 'Run For Unity' at Rajpath on the occasion of Rashtriya Ekta Diwas
- PM receives personal belongings of Sardar Patel, on his 139th birth anniversary
- Sidelights – Run For Unity Event at Rajpath, New Delhi
- PM flags off, joins Run For Unity on Sardar Patel Jayanti
- PM remembers Smt. Indira Gandhi on her Punya Tithi
- PM pays tributes to Sardar Patel on his birth anniversary
- Election Commission
- General Election to Legislative Assemblies of Jharkhand and Jammu & Kashmir 2014 - Allotment of Broadcast/Telecast time to Political Parties – regarding
- Min of Agriculture
- Kharif Rice Area Coverage
- Min of Commerce & Industry
- Index of Eight Core Industries (Base: 2004-05=100), September, 2014
- Department of Commerce calls for creative participation for India’s participation at Hannover Messe
- Min of Defence
- Minor Incident Involving Naval Ship
- Indian Warships Visit to Port Louis
- Ministry of Finance
- Auction for Sale (Re-Issue) of Government Stocks
Major Focus of the Government is to Bring Back the Growth Momentum: Finance Minister
- Auction for Sale (Re-Issue ) of ‘8.30 per cent Government Stock, 2040’
Auction for Sale of a new Government Stock of 19 Years
Auction for Sale (Re-Issue ) of ‘8.60 per cent Government Stock, 2028’
- Auction for Sale (Re-Issue) of ‘8.27 per cent Government Stock, 2020’
- Subash Chandra Garg Relieved to take up His New Assignment As Executive Director, World Bank, Washington D.C.
- Rajiv Mehrishi takes over as Secretry, Department of Economic Affairs, Ministry of Finance
- Min of Health and Family Welfare
- MoU with Spain on organ transplantation soon
- Min of Home Affairs
- MoS Home Kiren Rijiju participates in ‘Run for Unity’
- Text of Home Minister's speech at NPA, Hyderabad
- Cyber Crime Prevention Strategy will be Strengthened: Home Minister Shri Rajnath Singh
- Home Secretary Administers Rashtriya Ekta Diwas Pledge
- “Police Stations should become Temples of Justice,” says Rajnath Singh
- Min of Human Resource Development
- 2nd Meeting of SAARC Education Ministers Held
- Min of Parliamentary Affairs
- Standing Committee on Railways invites suggestions on Railways(Amendment) Bill, 2014
- Min of Personnel, Public Grievances & Pensions
- Central Armed Police Forces (Assistant Commandants) Examination, 2014 Declaration of Result of Written Part
- Min of Petroleum & Natural Gas
- Constitution of Steering Committee for successful implementation of “Make in India” campaign in the Oil and Gas Industry.
- Global crude oil price of Indian Basket was US$ 84.77 per bbl on 30.10.2014
- Ministry of Railways
- Railway Protection Force hosting 15th All Indian Police Band Competition
- Min of Road Transport & Highways
- Institute of Driving Training & Research to be inaugurated tomorrow at Pune
- Electronic Toll Collection System makes Delhi-Mumbai Drive Faster and Cheaper
- Ministry of Water Resources
- Storage Status of 85 Important Reservoirs of the Country as on October 30, 2014
- Min of Women and Child Development
- SRB to be raised by 10 basis points every year
Ministry of Finance14-November, 2007 17:28 IST
|13th Finance Commission Constituted|
|The President has constituted the Thirteenth Finance Commission under Article 280 (1) of the Constitution. Dr. Vijay L. Kelkar, former Union Finance Secretary and Adviser to the Finance Minister has been appointed as Chairman of the Commission. Shri B.K Chaturvedi, Member, Planning Commission will be the part-time Member, and Dr. Indira Rajaraman, Emeritus Professor, National Institute of Public Finance and Policy, Dr. Abusaleh Shariff, Chief Economist, National Council of Applied Economic Research, Prof. Atul Sarma, Former Vice-Chancellor, Rajiv Gandhi University (formerly Arunachal University) shall be the full time Members of the Commission. Shri Sumit Bose will be the Secretary to the Commission.
The Finance Commission is a Constitutional body set up every five years to make recommendations relating to the distribution of the net proceeds of taxes between the Union and the States, the principles which should govern the grants-in-aid of the revenues of the States out of the Consolidated Fund of India and the measures needed to augment the Consolidated Fund of a State to supplement the resources of the Panchayats and the Municipalities. In addition, any other matter may be referred to the Commission by the President in the interests of sound finance.
Apart from the terms of reference specifically laid down in the Constitution, the Thirteenth Finance Commission will review the state of finances of the Union and the States keeping in view the operation of the States’ Debt Consolidation & Relief Facility 2005-2010(DCRF) and suggest measures for maintaining a stable and sustainable fiscal environment consistent with equitable growth. The Thirteenth Finance Commission will also review the present arrangements as regards financing of Disaster Management with reference to the National Calamity Contingency Fund and the Calamity Relief Fund and the funds envisaged in the Disaster Management Act, 2005.
As in the case of the previous Finance Commissions, the 13th Finance Commission will also take into consideration various aspects while making its recommendations. These relate to assessment of the resources of the Centre and the State for the five year period, taxation efforts and the potential of additional revenue mobilization, demands on the resources of the Central Government, the requirement of States to meet the non-salary component of maintenance expenditure on capital assets and plan schemes, the objective of not only balancing receipts and expenditure but also generating surpluses, and the need to ensure commercial viability of irrigation and power projects, departmental undertakings and public sector enterprises through various means including levy of user charges and adoption of measures to promote efficiency.
The 13th Finance Commission will also take into consideration the likely impact of the proposed implementation of Goods and Services Act (GST) with effect from 1st April, 2010, including its impact on foreign trade. The Finance Commission has also been asked to consider the need to improve the quality of public expenditure to obtain better outputs and outcomes. The need to manage ecology, environment and climate change consistent with sustainable development, which is an issue of national concern will also be taken into account by the 13th Finance Commission.
The recommendations of the Thirteenth Finance Commission will cover the period of five years from Ist April, 2010 to 31st March 2015. The Commission is expected to make available its report by 31st October, 2009.
(Release ID :32658)