Budget Track - Issues before the 14th Finance Commission

This edition of Budget Track focuses on the ‘Issues before the 14th Finance Commission’, which is due to submit its report to the Union Government this year. The Finance Commission of India, a Constitutional body constituted every five years, facilitates the intergovernmental transfer of resources at the sub-national level of the government and plays an important role in determining the fiscal architecture of the country. The past few years have witnessed specific changes in the Centre-State fiscal relations. This has been reflected in the composition, Terms of Reference and the recommendations of the Central Finance Commissions. As the 14th Finance Commission prepares to submit its report, there are a number of concerns that need to be brought forth, both before the Commission as well as before other stakeholders. This issue of Budget Track tries to capture some of the aspects related to the 14th Finance Commission.