First Meeting of the 15th Finance Commission’s Committee on Fiscal Consolidation Roadmap
- A committee to review fiscal consolidation, led by Finance Commission chairman NK Singh, will hold its first meeting on Thursday to workout the fiscal consolidation roadmap for the government from 2021-22 to 2025-26.
- The meeting is likely to be attended by Ajay Jha and Anoop Singh, members of the 15th Finance Commission (XVFC).“The mandate of the XVFC is to work out the fiscal consolidation roadmap for the general government for the period 2021-22 to 2025-26,” the government said in a statement.
- “This task has been complicated by the extraordinary situation caused by the spread of the pandemic and the concomitant fiscal compulsions on the central and state governments,” it said.
- The Union Government has given additional borrowing space of 2 percentage points of GDP to the State Governments, apart from the 3 per cent that was already available.
- The Finance Commission is expected to make recommendations on the fiscal consolidation roadmap of the Centre and States, taking into account their responsibility to adhere to appropriate levels of debt and deficit levels, while fostering higher inclusive growth.
About XVFC-
- The Fifteenth Finance Commission (XV-FC or 15-FC) is an Indian Finance Commission constituted in November 2017 and is to give recommendations for devolution of taxes and other fiscal matters for five fiscal years, commencing 2020-04-01.
- The commission’s chairman is Nand Kishore Singh, with its full-time members being Ajay Narayan Jha, Ashok Lahiri and Anoop Singh.
- Formation– 2017
- Parent department– Ministry of Finance
- Chairman– NK Singh
- Members– Ajay Narayan Jha, Prof. Anoop Singh, Dr. Ashok Lahiri, Member, and Prof. Ramesh Chand.
जीके और दैनिक करेंट अफेयर्स अपडेट हिंदी में प्राप्त करें – क्लिक करें
