Login With Google
Panel to push farm reforms in States
News:
- The 15th Finance Commission is considering the promotion of an expanded farm reform agenda for States over the next five years.
- The Central government is deciding to take the ordinance route to push through reforms in agricultural marketing and contract farming.
More in the news:
- The Finance Commission set up a panel “to devise a mechanism for incentivisation of States in areas of agricultural reforms agenda.
- The group includes agricultural economist and FC member Ramesh Chand, as well as Union Agriculture Secretary Sanjay Agarwal.
- In the framework for the FC’s interim report for 2020-21, the Commission had recommended performance incentives to be given to States on the basis of three measurable indicators of agricultural reforms.
About Finance Commission:
- The Finance Commission is a constitutional body created under Article 280 of the Constitution, 1950.
- Purpose: To determine the method and formula for distributing the tax proceeds between the Centre and states, and among the states.
- It is usually constituted once in five years.