15th Finance Commission Current Affairs - 2020

Rs 6,195.08 crore released to 14 States as Post Devolution Revenue Deficit Grant in July 2020

The Department of Expenditure (under Union Finance Ministry) has released a notice on 8th July 2020 as per which Rs 6,195.08 crore has been released to 14 states in the country. The amount released is as per the recommendation of the 15th Finance Commission. Under the Post-Devolution Revenue Deficit grant for Financial Year 2020-21, this Read More…

First Installment of Highest Ever Rs 60,750 Crore Grant to RLBs Released

For the Financial Year (FY) 2020-21, the Fifteenth Finance Commission had earlier submitted its report for the Rural Local Bodies (RLB), the recommendations in the report were accepted by the Government. Based on it, the highest ever grants in a single year was allocated to the RLBs for the FY 2020-21 of Rs 60,750 Crore. Read More…

Fifteenth Finance Commission meets to discuss Health Sector and Fiscal Consolidation

On May 21, 2020, the Fifteenth Finance Commission met to discuss health sector and fiscal consolidation in the country. Highlights A high-level group was constituted by the Finance Commission on health sector. The group had submitted its report August 2019. Some of its recommendations were incorporated in the first report of the Finance Commission for Read More…

GoI releases Rs 6,195 crores of funds to 14 states

On May 11, 2020, the Government of India released Rs 6,195 crores to 14 states. This is the second equated monthly installment of Post Devolution Revenue Deficit. Highlights The grant allocated to the states will act as additional source of income to the states. The grant was recommended by the 15th Finance Commission. The Central Read More…

Finance Commission: States shall use FRBM clause to fight COVID-19

On April 24, 2020, the Finance Commission has advised the state governments to use the clauses of FRBM (Fiscal Responsibility) act in order to raise additional resources to fight against COVID-19. Centre and State FRBM The states have their own FRBM act. The main similarities between the centre and state FRBM is that the limit Read More…