Fourteenth Finance Commission
- Formed due to Article 280 of the Constitution, consisting of Dr. Y.V.Reddy, former Governor Reserve Bank of India, as the Chairman and the following four other members, namely:-Prof Abhijit Sen; Ms. Sushma Nath; Dr. M.Govinda Rao and Dr. Sudipto Mundle.
- Shall
make its report available by the 31st October, 2014, covering a
period of five years commencing on the 1st April, 2015.
- Make recommendations regarding the sharing of Union taxes, principles governing Grants-in-aid to States and transfer of resources to local bodies.
- Review the state of finances, deficit and debt levels of the Centre and states, keeping in view the fiscal consolidation roadmap recommended by the 13th Finance Commission.
- Suggest measures for maintaining a stable and sustainable fiscal environment consistent with equitable growth including suggestions to amend the Fiscal Responsibility Budget Management Acts.
- May also review the present arrangements financing of Disaster Management with reference to the funds constituted under the Disaster Management Act, 2005 and make recommendations.
- Look into issues like disinvestment, GST compensation, sale of non-priority PSUs and subsidies
- It will take the base of population figures as of 1971.
