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Fiscal indicators of Tamil Nadu deteriorated drastically: Finance Commission

-The Hindu ‘It moved from a revenue surplus to a revenue deficit State’ Chennai: Tamil Nadu’s fiscal indicators have deteriorated drastically from 2012-13 to 2018-19 and most borrowings in the recent years have gone to fund its revenue deficit, instead of capital expenditure, the 15th Finance Commission report tabled in the Parliament recently said. Tamil Nadu moved from a “revenue surplus” to a “revenue deficit” State after 2012-13, it noted. A revenue deficit...

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NK Singh, chairman of the 15th Finance Commission, interviewed by Zia Haq (Hindustan Times)

-Hindustan Times The chairman of the 15th Finance Commission, NK Singh, spoke to Zia Haq about the final report of the Commission for 2021-26 which has now been made public. Edited excerpts. The Constitution, through Article 280 to 281, provides for finance commissions every five years as a mechanism for sharing of taxes and revenues vertically between the Centre and states; and horizontally among all states, based on levels of development, demographic...

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A considered balance

-The Indian Express Finance Commission has taken a judicious approach in weighing competing needs of Centre and states The terms of reference of the 15th Finance Commission were controversial and contentious. Several state governments had raised concerns over what they saw as attempts by the Centre to claw back the fiscal space and autonomy extended to them by the 14th Finance Commission. The concerns centred not only on the vertical (between Centre...

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Fiscal transparency jacks up ‘expenditure’ numbers in the Union Budget 2021-22

In order to understand why the Union Budget 2021-22 is being termed as ‘transparent’, it has to be read simultaneously with the 15th Finance Commission Main Report for 2021-26. But first, let us discuss about 'fertilizer subsidy'. The budget documents for Union Budget 2021-22 show that the spending on ‘fertilizer subsidy’ was slashed from Rs. 1,33,947 crore in 2020-21 (revised estimate) to Rs. 79,530 crore in 2021-22 (budget estimate). However, the...

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Continuity and fiscal follow-through -M Govinda Rao

-The Hindu The 15th Finance Commission, by and large, has gone with the approach and methodology of earlier Commissions The appointment of the Fifteenth Finance Commission by the President of India under Article 280 of the Constitution was notified on November 27, 2017. It was required to submit the report by October 30, 2019 for five years for the period 2020-21 to 2024-25. However, due to various political and fiscal developments, notifications...

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