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9th August 2016 Current Affairs Questions and Answers

9th August 2016 Current Affairs MCQs, Quiz, Questions : Current Affairs for August 2016 ,  Daily Multiple Choice Questions (MCQs) for In...

14th Finance Commission report

Government has tabled the 14th Finance Commission report for the period 1st April 2015, to 31st March, 2020 in the Lok Sabha on Tuesday. Finance Minister Arun Jaitley tabled the report in Lok Sabha. The report was submitted to the President on 15th December 2014 itself. Former RBI governor YV Reddy heads the 14th Finance commission.
The Finance Commission report help the states understand how much revenue they will receive from the Centre and accordingly allow them to finalize their own Budgets. It is expected to have suggested enhancing the states' share in Central taxes, in tune with the NDA government's focus to provide more fiscal autonomy to states. At present, states are given 32 per cent of Central taxes, in line with the recommendation of the Thirteenth Finance Commission.