Gangtok, 20 Jan [IPR]: As per information received from Principal Secretary, Finance Deptt, a 14-member team from the 14th Finance Commission is visiting Sikkim from 20 to 22 January to discuss the States' growth plans for the next 5 years beginning 01 April 2015.
Finance Commission is a body of 5 experts including a chairman, constituted under Article 280 of the Constitution of India by the President,
The Primary mandate of the commission is to recommend a formula for sharing net proceeds of tax, revenues of the centre with the states, principles which should govern the transfer of "grant in aid" of the revenues of the states out of the consolidated fund of India and measures required to augment the consolidated fund of individual states during a 5 year period.
Dr. YV Reddy, former Governor of Reserve Bank of India, heads the commission with four members , Prof Abijit Sen Member Planning Commission Ms Sushmanath former Union Finance Secretary, Dr. M Govinda Roa Director NIPFP and Dr. Sudipto Mundle former acting chairman Statistical commission. AN Jha is the member secy to the commission.
The visit assumes significance because the commission, after hearing the states demands, will recommend sharing of tax proceeds between the centre and the state for the 5 year period.
The State Government has prepared a detailed memorandum which will be submitted to the commission during the meeting scheduled to be held on 21 January with the Chief Minister, Council of Ministers and senior Govt officials.
Sikkim Government will also make a detailed presentation on the state’s finances and its projections for the period under consideration. It will also express the views on the terms of reference of the Finance Commission.
The Commission during the visit will also interact with the representatives of local bodies basically PRIs, National and State level recognized political parties and trade and industries associations.
The Finance Commission will finalize its recommendations by 31 October 2014 after completing its discussion with all states, the central government and the stakeholders.
The 13th Finance Commission, under the chairmanship of Dr. Vijay Kelkar had visited Sikkim from 09 to 12 Nov 2008, and had recommended total grant of Rs 4,525.80 crores for the period 2010 to 2014 for Sikkim.
Finance Commission is a body of 5 experts including a chairman, constituted under Article 280 of the Constitution of India by the President,
The Primary mandate of the commission is to recommend a formula for sharing net proceeds of tax, revenues of the centre with the states, principles which should govern the transfer of "grant in aid" of the revenues of the states out of the consolidated fund of India and measures required to augment the consolidated fund of individual states during a 5 year period.
Dr. YV Reddy, former Governor of Reserve Bank of India, heads the commission with four members , Prof Abijit Sen Member Planning Commission Ms Sushmanath former Union Finance Secretary, Dr. M Govinda Roa Director NIPFP and Dr. Sudipto Mundle former acting chairman Statistical commission. AN Jha is the member secy to the commission.
The visit assumes significance because the commission, after hearing the states demands, will recommend sharing of tax proceeds between the centre and the state for the 5 year period.
The State Government has prepared a detailed memorandum which will be submitted to the commission during the meeting scheduled to be held on 21 January with the Chief Minister, Council of Ministers and senior Govt officials.
Sikkim Government will also make a detailed presentation on the state’s finances and its projections for the period under consideration. It will also express the views on the terms of reference of the Finance Commission.
The Commission during the visit will also interact with the representatives of local bodies basically PRIs, National and State level recognized political parties and trade and industries associations.
The Finance Commission will finalize its recommendations by 31 October 2014 after completing its discussion with all states, the central government and the stakeholders.
The 13th Finance Commission, under the chairmanship of Dr. Vijay Kelkar had visited Sikkim from 09 to 12 Nov 2008, and had recommended total grant of Rs 4,525.80 crores for the period 2010 to 2014 for Sikkim.
No comments:
Post a Comment
Readers are invited to comment on, criticise, run down, even appreciate if they like something in this blog. Comments carrying abusive/ indecorous language and personal attacks, except when against the people working on this blog, will be deleted. It will be exciting for all to enjoy some earnest debates on this blog...