Current Affairs

Govt. extends 15th Finance Commission's Term

Current context: The government in its cabinet meeting, has extended the term of 15th Finance Commission by a month to address proper allocation of funds
Govt. extends 15th Finance Commission's Term
  • The 15th Finance Commission is extended to address “Serious Concerns” related to the allocation of adequate and non-lapsable funds for internal security and defence of India
  • The changes in the Terms of Reference (ToR) is proposed for making the assured allocation of resources for internal security and defence imperatives
  • The cabinet approved the extension up to 30th November 2019

About 15th Finance Commission:

  • The Finance Commission was set up in 1951 under Article 280 of the Constitution
  • 15th FC was founded on 27th November 2017
  • The 15th FC is headed by N K Singh (former Revenue Secretary and former Rajya Sabha MP) and full-time members include Ajay Narayan Jha, Ashok Lahiri, and Anoop Singh
  • Concerned Departments: Department of Economic Affairs, Ministry of Finance
  • The recommendations of the commission are for 5 years- from 1st April 2020 to 2025
  • The commission is mandated to use 2011 census instead of 1971 census for resource allocation
  • The FC was to submit its report by 30th October 2019

Question: 

Q.1 The 15th Finance Commission is using which census for resource allocation of funds?
a. 1971
b. 2001
c. 2011
d. 1991
Govt. extends 15th Finance Commission's Term Govt. extends 15th Finance Commission's Term Reviewed by Neha on July 18, 2019 Rating: 5

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