Sunday, December 30, 2012

Finance Commission

Distribution of taxes b/w central and the state
There has been a total of 13 finance commission until now
12th one was under Rangrajan and 13th one is under Vijay Kelkar
The 13th report talks about -
1.MTFP
2.FRBM
3.CSS
4.GST
5.Reporting loss in power sectory by states
6.Reducing revenue deficit with the intent of eliminating it completely
7.Reducing fiscal deficit to about 3% by 2014-2015

Also glance thru Sarkaria commission's report online which asks for maintaining status quo b/w centre and state relations..

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