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Finance panel submits report
Why is it in news?
- The 15th Finance Commission submitted its report for the period 2021-22 to 2025-26 to the President.
Details:
- The Commission has taken the unique requirements of each State on board and come up with State-specific considerations in its report.
- Commission has addressed all its unique terms of reference, such as considering a new non-lapsable fund for financing national security and defence spending.
- The report is expected to be presented to Prime Minister soon.
- The report will be available in the public domain once it is tabled in Parliament along with an action taken report on its recommendations.