On Wednesday, the centre government has extended the 15th Finance Commission’s term till November 30, broadened the ambit of its suggestion to include funds for internal security and defence of the nation, said an official.
Centre on November 27, 2017, has notified that the 15th Finance Commission, headed by NK Singh, to recommend among other things, formula for delegation of funds to the states by the Centre for 5 years commencing April 1, 2020.
An official tweet reads, “Cabinet approves extension of the term of the Fifteenth Finance Commission up to 30th November, 2019, approves Amendment in the Terms of Reference for the Fifteenth Finance Commission to address concerns regarding funds for defence and internal security.”
The Finance Commission was scheduled to finalize its report by October 30, 2019.
Further details are awaited.