Bangalore Bangalore International Centre had arranged a panel discussion on “The Report of the Fourteenth Finance Commission” on Friday 27th March, 2015 at 6.30 PM at its Conference Hall. The panellists were Prof. Charan Singh, RBI Chair Professor, IIM, Bangalore, Dr. Vinod Vyasulu, Adviser, Centre for Budget and Policy Studies and Mr. M R Sreenivasa Murthy, Former Chairman, KERC. The panel discussion was chaired moderated by Dr. M Govinda Rao, Former Member, 14th Finance Commission and Emeritus Professor, National Institute of Public Finance and Policy.
The 14th Finance Commission has submitted its final report to the Govt. of India and the same was placed before the Parliament on Tuesday, 24th February, 2015. The recommendations are far-reaching and their impact is now under animated discussion in several fora.
While the Central Government may be gloating over the 14th Finance Commission's recommendation increasing the share of states in Central taxes to 42 per cent from the current 32 per cent, but the share of nine states has decreased.
Andhra Pradesh (including Telangana), Assam, Bihar, Himachal Pradesh, Odisha, Rajasthan, Tamil Nadu, Uttar Pradesh and Uttarakhand in fact stand to lose in the Commission's recommendations.
Non-BJP-ruled states like Telangana, Assam, Himachal Pradesh, Odisha, Tamil Nadu and Uttarakhand, or Bihar, which is going to polls later in 2015, will protest the decrease in their share and try to derive political mileage out of it.
The Panel discussed about the impacts of these recommendations made by the Finance Commission.
The fascinating interactive session, which followed the panel discussion was adroitly steered and moderated by Dr. Govinda Rao who also contributed to the session with his comments and observations with his rich experience.