The 15th Finance Commission, chaired by Shri N.K. Singh submitted its report to the President of India, Shri Ram Nath Kovind on December 5, 2019. Members of the Commission Shri Ajay Narayan Jha, Ashok Lahiri, Ramesh Chand, Anoop Singh and Secretary Shri Arvind Mehta were also present at Rashtrapati Bhawan.
The report of the Commission is for the financial year 2020-21 for further necessary action.
Background
The XV Finance Commission was constituted by the President of India under Article 280 of the Constitution on 27 November 2017 to make recommendations for a period of five years from 1st April 2020 to 31 March 2025. The Commission had a wide ranging Terms of Reference contained in the Presidential Notification.
Thereafter, the Gazette Notification dated 27 November 2019 mandated the XV Finance Commission to submit the report for the financial year 2020-21 by 30 November 2019 and thereafter the final report for the period 1 April 2021 to 31 March 2026 by 30 October 2020.
