Fifteenth Finance Commission today submitted its report for the period of 2021-26 to President Ram Nath Kovind. The Finance Commission led by its Chairman N.K. Singh today called on the President and submitted the report.
The report has been finalized after wide-ranging consultations with the Union and State Governments, local governments, Chairmen and Members of previous Finance Commissions, Advisory Council to the Commission and other domain experts, academic institutions of eminence and multi-lateral institutions. The Finance Commission will also present a copy of the Report to the Prime Minister. The report will be tabled in the Parliament by the Finance Minister along with an Action Taken Report of the government.
The Fifteenth Finance Commission was constituted by the President with N.K. Singh as its Chairman. The other members of the commission include Ajay Narayan Jha, Prof. Anoop Singh, Dr. Ashok Lahiri and Dr. Ramesh Chand.
This Report has been organized in four volumes. Volume-I and II contain the main report whereas Volume- III is devoted to the Union Government which examines the medium-term challenges and the roadmap ahead. Volume-IV is entirely devoted to the states. The commission has analysed the finances of each state in great depth and has come up with state specific considerations to address the key challenges that individual states face.