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Govt might lengthen 15th Finance Fee’s time period by six months: Report – Information by Automobilnews.eu

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Govt might lengthen 15th Finance Fee’s time period by six months: Report


The 15th Finance Fee’s time period is likely to be prolonged by six months as a result of uncertainty of useful resource allocation to newly shaped union territories of Jammu and Kashmir (J&Okay) and Ladakh, the Enterprise Normal reported.

This might point out that the 15th FC will present an interim report earlier than the Funds for 2020-21, and the ultimate report could possibly be submitted at a later date. The interim report will give the Centre help in making ready the Funds.

Moneycontrol couldn’t independently confirm the story.

This attainable extension could be the second, because the deadline to submit the report has already been prolonged to November 30 from October 31. This extension was given to discover the choice of a separate funding mechanism for defence and inside safety.

The FC and authorities mentioned useful resource distribution, the remedy of J&Okay as in comparison with Delhi and Puducherry, and the peculiarity of Ladakh’s massive territory in opposition to its sparse inhabitants, the paper quoted a senior official say.

The Jammu and Kashmir Reorganisation Act mandated that the UT be handled as a state and paid out of the divisible tax pool. Ladakh will likely be thought-about as another UT, receiving its funds from the Centre’s share.

However this cost is likely to be unfair to different UTs corresponding to Delhi and Puducherry, who don’t obtain any portion of the divisible tax pool, officers informed the publication.Particular Thursday Expiry on 10th 7th Nov
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Govt might lengthen 15th Finance Fee’s time period by six months: Report – Information by Automobilnews.eu
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