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15th  Finance Commission


15th Finance Commission

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 JhaAshok Lahiri and Anoop Singh. In addition, the commission also has a part-time member in Ramesh ChandShaktikanta Das served as a member of the commission from November 2017 to December 2018.

Constitution

The Fifteenth Finance Commission was constituted by the Government of India—after getting ceremonial approval from President of India—through a notification in The Gazette of India on 2017-11-27. Nand Kishore Singh was appointed as the commission's chairman, with its full-time members being Shaktikanta Das and Anoop Singh and its part-time members being Ramesh Chand and Ashok Lahiri.

The commission held its first meeting on 2017-12-04. Lahiri was elevated to the status of a full-time member in May 2018 and was accorded the status of a minister of state. Das resigned as member on 11 December 2018, to become the Governor of Reserve Bank of India.

In July 2019, the commission's term was extended by a month to November 2019, and its terms of reference (ToR) were expanded by the Union Cabinet and asked it to consider whether "adequate, secure and non-lapsable" funds could be provided for funding defence and internal security, and how would a distinct system to fund defence and internal security be operationalised

 Executives