NEW DELHI: The 15th finance commission on Friday finalised its recommendations, which will be submitted to President Ram Nath Kovind on November 9.
The commission headed by N K Singh remained tightlipped about its recommendations amid indications that it has suggested a new fiscal road map for the Centre and the states. It is unlikely to opt for a significant reduction in the share of central taxes that is transferred to states, which is currently pegged at 41%. Its award period will extend from April 2021 to March 2026.
The contents, however, are expected to be known at the time of the Budget presentation in February when the government will table the report along with an Action Taken Report in Parliament.
“The commission has finalised their report after wideranging consultations with the Union and state governments, local governments at different tiers, chairmen and members of previous finance commissions, advisory council to the commission and other domain experts, academic institutions of eminence and multilateral institutions,” it said in a statement.