Finance Commission

13th Finance Commission of India15th Finance Commission of IndiaFinance Commission of Indiaprevious commissionsthirteenth Finance Commission
The First Finance Commission (IAST: Vitta Āyoga) was established by the President of India in 1951 under Article 280 of the Indian Constitution.wikipedia
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Fifteenth Finance Commission

FifteenthFinance Commission 15th Finance CommissionFifteenth
The most recent was constituted in 2017 and is chaired by N. K.Singh, a former member of the Planning Commission.
The FifteenthFinance Commission of India (XV-FC) is an Indian Finance Commission constituted in November 2017 and is to give recommendations for devolution of taxes and other fiscal matters for fivefiscal years, commencing 2020-04-01.

President of India

PresidentPresidentialIndian President
The First Finance Commission (IAST: Vitta Āyoga) was established by the President of India in 1951 under Article 280 of the Indian Constitution.
However, until now no guidelines defining the situation of financial emergency in the entire country or a state or a union territory or a panchayat or a municipality or a corporation have been framed either by the finance commission or by the central government.

Government of India

Indian governmentCentral GovernmentUnion Government
It was formed to define the financial relations between the central government of India and the individual state governments.
Inter-state share in the union tax pool is decided by the recommendations of the Finance Commission to the president.

Planning Commission (India)

Planning CommissionPlanning Commission of IndiaIndian Planning Commission
The most recent was constituted in 2017 and is chaired by N. K.Singh, a former member of the Planning Commission.
Finance Commission of India

Fifth Finance Commission

Fifth
The terms of reference of the Fifth Finance Commission were wider than those of the previous commissions.

Fourteenth Finance Commission

Fourteenth
The Fourteenth Finance Commission of India was a finance commission constituted on 2 January 2013.

Kshitish Chandra Neogy

K.C. Neogy
On 22 November 1951, Neogy was appointed by the President of India as the chairman of the first Finance Commission of India.

Eleventh Finance Commission

Eleventh
3) With regard to the recommendations made by the Finance Commission of the State; the measures needed to augment the Consolidated Fund of a State to supplement the resources of the Panchayats and Municipalities in the State

N. K. P. Salve

N.K.P Salve
He also remained chairman of the 9th Finance Commission of India (1984–89).

Fiscal Responsibility and Budget Management Act, 2003

Fiscal Responsibility & Budget Management BillFiscal Responsibility and Budgetary Management Act, 2003The Fiscal Responsibility and Budget Management Act, 2003
Fiscal Responsibility and Budget Management Act, 2003
It was reported that the Thirteenth Finance Commission of India was working on a new plan for reinstating fiscal management in India.

International Alphabet of Sanskrit Transliteration

IASTStandard Indic transliterationtransliterated
The First Finance Commission (IAST: Vitta Āyoga) was established by the President of India in 1951 under Article 280 of the Indian Constitution.

State governments of India

state governmentsstate governmentstate
It was formed to define the financial relations between the central government of India and the individual state governments.

Economy of India

Indian economyIndiaIndia's economy
Since the institution of the First Finance Commission, stark changes in the macroeconomic situation of the Indian economy have led to major changes in the Finance Commission's recommendations over the years.

N. K. Singh

N. K.SinghN.K. Singh
The most recent was constituted in 2017 and is chaired by N. K.Singh, a former member of the Planning Commission.

Fiscal imbalance

vertical fiscal imbalancehorizontal fiscalfinancial imbalances
As a federal nation, India suffers from both vertical and horizontal fiscal imbalances.

Revenue

turnoverrevenuesgross revenue
Vertical imbalances between the central and state governments result from states incurring expenditures disproportionate to their sources of revenue, in the process of fulfilling their responsibilities.

B. R. Ambedkar

AmbedkarBabasaheb AmbedkarDr. Ambedkar
The Finance Commission was established in 1951 by Dr. B.R. Ambedkar, the then-incumbent law minister, to address these imbalances.

Ministry of Law and Justice (India)

Ministry of Law and JusticeMinister of Law and JusticeLaw Minister
The Finance Commission was established in 1951 by Dr. B.R. Ambedkar, the then-incumbent law minister, to address these imbalances.

Constitution of India

constitutionIndian Constitutionconstitutional
The First Finance Commission (IAST: Vitta Āyoga) was established by the President of India in 1951 under Article 280 of the Indian Constitution.

List of high courts in India

High CourtHigh CourtsHigh Courts of India
1) Are, or have been, or are qualified, as judges of a high court,

Economics

economiceconomisteconomic theory
4) Have special knowledge of economics

Lawsuit

litigationsuedcivil suit
1) Has all powers of a civil court as per the Civil Procedure Code, 1908.

Code of Civil Procedure (India)

civil procedure codeCivil Procedure Code, 1908Code of Civil Procedure
1) Has all powers of a civil court as per the Civil Procedure Code, 1908.

Insolvency

insolventcorporate insolvencyinsolvency law
2) He is an undischarged insolvent;