NK Singh Appointed as the Chairman of 15 Finance commission

New Delhi Nov 28: The Union Government has appointed NK Singh as the chairman of the 15th Finance Commission.The Commission has been established as per the constitutional requirement and the Main function is to recommend how the taxes between center and states
should be divided.

NK Singh is a Former Rajya Sabha Member and Burecraut and other members of the commission include a former department of economic affair secretary Shaktikanta Das, Anoop Singh, professor at Georgetown University, former chief economic advisor Ashok Lahiri, agricultural expert and NITI Aayog member Ramesh Chand. Chand and Lahiri are part-time members.

The commission has been set a deadline to submit, its report by
OCT 2019 and the commission recomendations would be implemented from April 1, 2020.Currently, 14 Finance Commission recomendations are in place.

The commission will also decide the principles for grants in aid to states out of the consolidated fund of India and also the measures to augment consolidated fund of a state to supplement the resources of panchayats and municipalities in the state based on the recommendation of the finance commission of the state.