Current context: The government in its cabinet meeting, has extended the term of 15th Finance Commission by a month to address proper allocation of funds
About 15th Finance Commission:
a. 1971
b. 2001
c. 2011
d. 1991
- The 15th Finance Commission is extended to address “Serious Concerns” related to the allocation of adequate and non-lapsable funds for internal security and defence of India
- The changes in the Terms of Reference (ToR) is proposed for making the assured allocation of resources for internal security and defence imperatives
- The cabinet approved the extension up to 30th November 2019
About 15th Finance Commission:
- The Finance Commission was set up in 1951 under Article 280 of the Constitution
- 15th FC was founded on 27th November 2017
- The 15th FC is headed by N K Singh (former Revenue Secretary and former Rajya Sabha MP) and full-time members include Ajay Narayan Jha, Ashok Lahiri, and Anoop Singh
- Concerned Departments: Department of Economic Affairs, Ministry of Finance
- The recommendations of the commission are for 5 years- from 1st April 2020 to 2025
- The commission is mandated to use 2011 census instead of 1971 census for resource allocation
- The FC was to submit its report by 30th October 2019
Question:
Q.1 The 15th Finance Commission is using which census for resource allocation of funds?a. 1971
b. 2001
c. 2011
d. 1991
