NK Singh to be chairman of 15th Finance Commission

Under the chairmanship of NK Singh, who is the former bureaucrat and ex-Member of Parliament, the 15th Finance Commission has been constituted by the Union Government. The Commission will make recommendations for the five years commencing 1st April 2020. It will recommend devolution of shareable central taxes to the States and will also review several important aspects of federal fiscal finance. It will also look at the impact of the GST, including payment of compensation for possible loss of revenues for 5 years. Former Secretary Economic Affairs Shaktikanta Das and Adjunct Professor of Georgetown University, Dr Anoop Singh will be the members of the Commission. Chairman of Bandhan Bank, Dr Ashok Lahiri and NITI Aayog Member Dr Ramesh Chand will be the Part-time members. Arvind Mehta will be the Secretary to the Commission. The Commission will make its report available by 30th October 2019.