Finance Commission of India
E25505
The Finance Commission of India is a constitutional body that recommends how tax revenues should be shared between the central government and the states, helping shape the country’s fiscal federalism.
Statements (49)
| Predicate | Object |
|---|---|
| instanceOf |
advisory body
ⓘ
constitutional body ⓘ |
| appointmentBy | President of India ⓘ |
| composition |
Chairman
ⓘ
four other members ⓘ |
| constitutionalArticle | Article 280 of the Constitution of India ⓘ |
| country | India ⓘ |
| establishedBy | Constitution of India ⓘ |
| firstConstitutedIn | 1951 ⓘ |
| foundationalLaw | Finance Commission (Miscellaneous Provisions) Act, 1951 ⓘ |
| governedByPrinciple |
efficiency in resource use
ⓘ
equity among States ⓘ incentives for fiscal discipline ⓘ need-based transfers ⓘ |
| hasAuthorityOver |
State Governments of India
ⓘ
surface form:
State governments of India
Union Government ⓘ
surface form:
Union government of India
|
| headquartersLocation |
New Delhi, India
ⓘ
surface form:
New Delhi
|
| jurisdiction | Government of India ⓘ |
| legalStatus | quasi-judicial body ⓘ |
| natureOfRecommendations | advisory ⓘ |
| playsRoleIn |
Centre-State financial relations
ⓘ
design of intergovernmental transfers in India ⓘ fiscal decentralization in India ⓘ |
| purpose |
address horizontal imbalances among States
ⓘ
address vertical imbalances between Union and States ⓘ promote fiscal federalism in India ⓘ recommend distribution of tax revenues between Union and States ⓘ recommend principles governing grants-in-aid of the revenues of the States ⓘ |
| recommendationType |
grants-in-aid
ⓘ
measures to augment Consolidated Fund of a State ⓘ measures to augment resources of Municipalities ⓘ measures to augment resources of Panchayats ⓘ tax devolution ⓘ |
| relatedConcept | fiscal federalism in India ⓘ |
| relatedTo |
Consolidated Fund of India
ⓘ
Consolidated Fund of India ⓘ
surface form:
Consolidated Fund of a State in India
|
| reportFrequency | every five years ⓘ |
| reportsImplementedBy |
State Governments of India
ⓘ
surface form:
State governments of India
Union Government ⓘ
surface form:
Union government of India
|
| scope |
allocation of shares of States in the net proceeds of taxes
ⓘ
distribution of net proceeds of taxes between Union and States ⓘ principles governing grants-in-aid from Consolidated Fund of India ⓘ recommendations on fiscal consolidation ⓘ review of state finances ⓘ |
| submitsReportTo | President of India ⓘ |
| worksOn |
disaster management grants
ⓘ
revenue deficit grants ⓘ sector-specific grants ⓘ tax sharing formula ⓘ |
Referenced by (1)
Full triples — surface form annotated when it differs from this entity's canonical label.