Press Information Bureau
Government of India
Cabinet
Government of India
Cabinet
22-November-2017
Cabinet approves setting up of the 15thFinance Commission
The Union Cabinet chaired by the Prime Minister Narendra Modi has
approved the setting up of the 15thFinance Commission. Under Article 280
(1) of the Constitution,it is a Constitutional obligation. The Terms of
Reference for the 15thFinance Commission will be notified in due course
of time.
Background:Cabinet approves setting up of the 15th Finance Commission
Press Information Bureau
Government of India
Cabinet
Government of India
Cabinet
22-November-2017
Cabinet approves setting up of the 15thFinance Commission
The Union Cabinet chaired by the Prime Minister Narendra Modi has
approved the setting up of the 15thFinance Commission. Under Article 280
(1) of the Constitution,it is a Constitutional obligation. The Terms of
Reference for the 15thFinance Commission will be notified in due course
of time.
Background:Article
280(1) of the Constitution lays down that a Finance Commission (FC)
should be constituted “…within two years from the commencement of this
Constitution and thereafter at the expiration of every fifth year or at
such earlier time as the President considers necessary…”.In keeping with
this requirement, the practice has generally been to set up next
Finance Commission within five years of the date of setting up of the
previous Finance Commission.
Fourteen (14)Finance Commissions have been constituted in the past. The
14thFinance Commission was set up on 02.01.2013 to make recommendations
covering the period of five years commencing on 1st April, 2015. The
Commission submitted its Report on 15th December, 2014. The
recommendations of the 14thFinance Commission are valid upto the
financial year 2019-20. In terms of Constitutional provisions, setting
up the 15thFinance Commission, the recommendations of which will cover
the five years commencing on April 1, 2020, has now become due.
pib
