Fourteenth Finance Commission: Constitution and terms of reference
- 2013
- p.821-834.
- Oct-Dec
The Finance Commission is mandated to make recommendation to the President of India regarding the distribution between the Union and states of the net proceeds of taxes which are to be divided between them and the allocation between the states of the respective share of such proceeds. It also suggests measures needed to augment the consolidated funds of a state to supplement the resources of the rural and urban local bodies in the states on the basis of the recommendations made by the State Finance Commissions. The fourteenth Finance Commission has been assigned certain policy considerations. It has also been asked to estimate the quantum of subsidies needed without compromising economic growth, as well as suggest ways to make public sector enterprises more competitive and market oriented. - Reproduced.