2011 will be the base year for 15th Finance Commission: Chairman N.K.Singh

NewsBharati    23-Jul-2018
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Ahmadabad, July 23: N.K.Singh, Chairman of 15th Finance Commission has clarified that instead of using 1971data, the Commission would be referring 2011census, as the base year. The Rajya Sabha MP was addressing the seminar on ‘Fiscal Federalism-Opportunities and Challenges’ under the banner of IIMA PGPX speaker series at IIMA Ahmadabad.

Earlier, several Chief Minister, especially from Southern region, had expressed reservations about the proposed change in the base year. On several platforms, citing the reason of low funding, the concern stakeholders observed that with new base year policy, the progressive state might face the financial crunch due to declining populations.

 

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Talking about existing federal structure, Singh assured that the top Financial body will address the issues faced by the lesser developed states. On this occasion, Singh lauded the contribution of Gujarat to the national economy.

Underlining the importance of urban and rural local bodies, Singh mentioned that empowering of such institutions would pave the way for India’s growth. He urged stakeholder to fine tune the existing ecosystem of local bodies.

During this interaction, Singh explained the role and functioning of the finance commission and briefed about the process of parameter selection and key issues like fund allocations to the state.

The Chairman of 15th Finance Commission is on 4-day Gujarat visit where, the commission will hold interactions with Chief Minister, government officials, leaders of various political outfits and representatives of trade and industry.

 
15th Finance CommissionN.K.Singh IIMA Ahmadabad