{"id":2402,"date":"2019-12-03T14:38:41","date_gmt":"2019-12-03T09:08:41","guid":{"rendered":"https:\/\/www.classiciasacademy.com\/blog\/?p=2402"},"modified":"2019-12-03T14:39:15","modified_gmt":"2019-12-03T09:09:15","slug":"term-of-15th-finance-commission-extended","status":"publish","type":"post","link":"https:\/\/www.classiciasacademy.com\/blog\/term-of-15th-finance-commission-extended\/","title":{"rendered":"Term of 15th Finance Commission Extended"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\">In News <\/h3>\n\n\n\n<p>The government has decided to extend the term of\nthe 15th Finance Commission to October 30, 2020.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">In-Detail <\/h3>\n\n\n\n<ul><li>The 15th Finance Commission is\nexpected to terminate after the submission of the financial year 2020-21 report\nbefore the budget.<\/li><li>But, the government has decided\nto extend its duration till October 30, 2020, to facilitate the Commission to\nsubmit a second report for the period 2021-26. <\/li><li>This means the recommendations\nof the Commission will be applicable for six years than the conventional\nfive-year period.<\/li><li>As per a government press\nrelease, \u201cThe extension of the term will enable the Commission to examine\nvarious comparable estimates for financial projections in view of reforms and\nthe new realities to finalise its recommendations for the period 2020-2026.\u201d<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Is It New?<\/h3>\n\n\n\n<ul><li>The extension of the term of a\nFinance Commission is not at all new.<\/li><li>Earlier, the term of the 14th\nFinance Commission was extended due to the bifurcation of Andhra Pradesh and\nTelangana. <\/li><li>Similarly, this time too there\nwas a restructuring of states in the form of Jammu &amp; Kashmir and Ladakh\nbecoming Union Territories. <\/li><li>During times of restructuring,\nthe Commission has to rework on the calculations for the allocation of\nfinancial resources to the states. <\/li><li>Also, the 9th Financial\nCommission under the chairmanship of N.K.P. Salve saw its\nrecommendation period extending to six years.<\/li><li>The government is of the\nopinion that the extension will lead to medium-term resource planning for state\nand central governments. <\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Finance Commission <\/h3>\n\n\n\n<ul><li>Under Article 280 of the Indian\nConstitution, the President of India must form a Finance Commission to\ndetermine the financial relations between the central and state governments. <\/li><li>The current Finance Commission\nis chaired by N.K. Singh.<\/li><li>Under the Finance Commission\n(Miscellaneous Provisions) Act, 1951 the government has the power to extend the\nterm of the Commission.&nbsp; <\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<div class=\"mh-excerpt\"><p>In News The government has decided to extend the term of the 15th Finance Commission to October 30, 2020. In-Detail The 15th Finance Commission is <a class=\"mh-excerpt-more\" href=\"https:\/\/www.classiciasacademy.com\/blog\/term-of-15th-finance-commission-extended\/\" title=\"Term of 15th Finance Commission Extended\">    [read more]<\/a><\/p>\n<\/div>","protected":false},"author":1,"featured_media":2403,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[98],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Term of 15th Finance Commission Extended - UPSC Current Affairs<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.classiciasacademy.com\/blog\/term-of-15th-finance-commission-extended\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Term of 15th Finance Commission Extended - UPSC Current Affairs\" \/>\n<meta property=\"og:description\" content=\"In News The government has decided to extend the term of the 15th Finance Commission to October 30, 2020. In-Detail The 15th Finance Commission is   [read more]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.classiciasacademy.com\/blog\/term-of-15th-finance-commission-extended\/\" \/>\n<meta property=\"og:site_name\" content=\"UPSC Current Affairs\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/classiciasacademydelhi\/\" \/>\n<meta property=\"article:author\" content=\"https:\/\/www.facebook.com\/classiciasacademydelhi\/\" \/>\n<meta property=\"article:published_time\" content=\"2019-12-03T09:08:41+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-12-03T09:09:15+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.classiciasacademy.com\/blog\/wp-content\/uploads\/2019\/12\/15th-Finance-Commission.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"600\" \/>\n\t<meta property=\"og:image:height\" content=\"450\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Classic IAS Academy\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@classic_ias\" \/>\n<meta name=\"twitter:site\" content=\"@classic_ias\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Classic IAS Academy\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.classiciasacademy.com\/blog\/term-of-15th-finance-commission-extended\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.classiciasacademy.com\/blog\/term-of-15th-finance-commission-extended\/\"},\"author\":{\"name\":\"Classic IAS Academy\",\"@id\":\"https:\/\/www.classiciasacademy.com\/blog\/#\/schema\/person\/11f000d5c6a57c5e6f655dd75e8f6096\"},\"headline\":\"Term of 15th Finance Commission Extended\",\"datePublished\":\"2019-12-03T09:08:41+00:00\",\"dateModified\":\"2019-12-03T09:09:15+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.classiciasacademy.com\/blog\/term-of-15th-finance-commission-extended\/\"},\"wordCount\":303,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.classiciasacademy.com\/blog\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.classiciasacademy.com\/blog\/term-of-15th-finance-commission-extended\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.classiciasacademy.com\/blog\/wp-content\/uploads\/2019\/12\/15th-Finance-Commission.jpg\",\"articleSection\":[\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.classiciasacademy.com\/blog\/term-of-15th-finance-commission-extended\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.classiciasacademy.com\/blog\/term-of-15th-finance-commission-extended\/\",\"url\":\"https:\/\/www.classiciasacademy.com\/blog\/term-of-15th-finance-commission-extended\/\",\"name\":\"Term of 15th Finance Commission Extended - 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