NK Singh likely to be head of 15th finance commission




The finance commission set up every five years and reviews finances, deficit and debt levels of the central government and states. The panel also suggest devolution of taxes between states and the center. The government has budgeted Rs 10 crore in the current financial year for the constitution of 15th finance commission, according to 2017-18 budget document. It is suggestions will be implemented for a period of five year starting April 1st 2020. The 14th finance commission was chaired by former reserve bank of India governor YV Reddy, and had Abhijit Sen, Sushma Nath, M Govinda Rao, and Sudipto Mundle as its member.
                                    NK Singh was also the chair of the fiscal responsibility and budget management panel, which had submitted its report to the government in January. He was also a member of Rajya Sabha from Bihar and has served on the parliamentary standing committee on external affairs and the committee on local area development scheme. He is the first 15th finance commission of India. After GST introduce now he can change the mind of channel. It was formed to define the financial relation between the central government of India and the Individual state governments. The first finance commission was started in 1951 by Dr.B.R Ambedkar.

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