Fiscal expert cum bureaucrat, NK Singh was appointed as the Chairman of the 15th Finance Commission. Mr Singh who served as Expenditure and Revenue Secretary, was the Chairman of the FRBM Review Committee that made a remarkable and scholarly study of fiscal prudence practices in the country.
As per initial reports, the Commission will have two special terms of references- on making impact assessment of GST and review fiscal consolidation efforts.
The 15th FC is appointed in the context of the changed federal financial relationship authored by the existing award. States are getting nearly 62% of the central taxes as tax share and grant and most of the previously run central government programs are now run by states.
Finance Minister Arun Jaitely cautioned that centre lost some of its space at present and his words comes as grief from the centre.
Interestingly, the Commission includes former Economic Affairs Secretary Mr Shaktikanta Das who is known for architecting demonetization. Mr Das and Anoop Singh – Georgetown University Professor are the full members of the FC.
Tags : fifteenth finance commission