State governments and other stakeholders are looking for an early tabling of the 15th Finance Commission’s report in Parliament, which will help the former plan their finances for the next financial year better.

In recent years, the Centre has opted to table the report a day before the Budget. In fact, the Narendra Modi government went a step further and tabled the 15th Finance Commission’s first report and the Action Taken Report (ATR) along with the Budget on February 1.

But unlike the past, when reports were presented towards the end or after the winter session of Parliament, the latest report (for April 2021 to March 2026) has been submitted to the President well before the winter session, which is typically held in December. On Monday, the commission presented its report to Modi.

The 14th Finance Commission, for instance, submitted its report on December 15, 2004, while the ATR was laid in the House on February 25. Similarly, the 13th Finance Commission one submitted its report on December 30, while its predecessor did so on the December 17, with the ATR tabled in late February in both cases. The 11th Finance Commission, was different since its final report was submitted on August 30, 2000 with the ATR tabled in Parliament in mid-December.

Given the massive tax shortfall and higher spending requirements due to the pandemic, most states are keen to know how the 15th Finance Commission has proposed to address the issue of devolution.

Source : Times of India