The Sixteenth Finance Commission has constituted an advisory council with five members to advise the Commission on any of the Terms of Reference (ToR) or related subjects. The Finance Commission, as per the ToR, will also suggest measures to augment the Consolidated Fund of a State to supplement the resources of panchayats and municipalities.
Poonam Gupta, Director General of the National Council of Applied Economic Research, has been appointed as the convenor of the Advisory Council. The other members are:
The Finance Commission is a constitutionally mandated body established every five years to devise a formula for distributing net tax proceeds between the Centre and the states as well as among states and local bodies. Currently, India shares 41% of federal taxes with states as recommended by the 15th panel.
In the realm of luxury timepieces, a select few watches command extraordinary prices that reflect…
The Cabinet Secretary is the highest-ranking civil servant in India, playing a key role in…
Wilhelm Conrad Röntgen, a German mechanical engineer and physicist, became the first person to win…
A series of pager explosions across Lebanon resulted in the deaths of at least nine…
India and the US have committed to deepening their bilateral cooperation across the energy value…
At the 4th RE-Invest Summit, hosted by the Ministry of New and Renewable Energy (MNRE)…