Thirteenth Finance Commission

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Thirteenth Finance Commission - Wikipedia

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The Thirteenth Finance Commission of India was constituted by the President of India under the chairmanship of Vijay L. Kelkar on 13 November 2007.^[1]

Members

Members of the Commission were:^[2]

Dr. Vijay L. Kelkar, Chairman
Shri B. K. Chaturvedi, Part-time
Dr. Indira Rajaraman
Prof. Atul Sarma
Dr. Sanjiv Misra
Shri Sumit Bose, Secretary

Recommendations

The major recommendations of the Commission were:

The share of states in the net proceeds of the shareable Central taxes should be 32%. This is 1.5 percentage-points higher than the recommendation of the 12th Commission.
Revenue deficit to be progressively reduced and eliminated, followed by revenue surplus by 2013–2014.
Fiscal deficit to be reduced to 3% of the gross domestic product (GDP) by 2014–2015.
A target of 68% of GDP for the combined debt of centre and states.
The Medium Term Fiscal Plan (MTFP) should be reformed and made the statement of commitment rather than a statement of intent.
Fiscal Responsibility and Budget Management Act, 2003 need to be amended to mention the nature of shocks which shall require targets relaxation.
Both centre and states should conclude 'Grand Bargain' to implement the model Goods and Services Act (GST).(Task force recommended single positive GST rate of 12% comprising 5% CGST and 7% SGST ) To incentivise the states, the commission recommended a sanction of the grant of Rs500 billion.
Initiatives to reduce the number of Central Sponsored Schemes (CSS) and to restore the predominance of formula-based plan grants.
States need to address the problem of losses in the power sector in time bound manner.

References

^ "S.O. 1937(E)". The Gazette of India, Extraordinary. Part II Sec 3 (ii): 4. 14 November 2007.
^ "Thirteenth Finance Commission". Fourteenth Finance Commission. Retrieved 22 July 2017.

Further References

Sansar Singh Janjua (1999). Centre State Financial Relations in India and Finance Commission. New Delhi, India: Anmol Publications. ISBN 8126102233.
"Finance Commission India". New Delhi, India: Fourteenth Finance Commission. Retrieved 22 July 2017.

Ministry of Finance (India)

Departments

Economic Affairs

Economic Division: Economic Survey
Budget Division: Union budget

Expenditure

Revenue

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Pradhan Mantri Jan Dhan Yojana

DIPAM

DPE

Secretaries

Economic Affairs	Rajiv Mehrishi Shaktikanta Das Subhash Chandra Garg Atanu Chakraborty (incumbent)
Revenue	Shaktikanta Das Ajay Bhushan Pandey Hasmukh Adhia (incumbent)
Finance	Ratan P. Watal Ashok Lavasa Hasmukh Adhia Ajay Narayan Jha Rajiv Kumar (incumbent)

Finance Ministers

Ministers of State
for Finance

Chief Economic
Advisor

Finance Commissions

v t e Finance Commission of India
1950–2000	1st (1952–1957) 2nd (1957–1962) 3rd (1962–196) 4th (1966–1969) 5th (1969–1974) 6th (1974–1979) 7th (1979–1984) 8th (1984–1989) 9th (1989–1995) 10th (1995–2000)
2000–2050	11th (2000–2005) 12th (2005–2010) 13th (2010–2015) 14th (2015–2020) 15th (2021–2026)^{[n 1]} 16th (2026–2031)
^ Initially 15th commission was set up for the period from 2020-25, but due to COVID-19 pandemic, the commission's term was set from 2021 to 2026.

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