After it was approved by the Delhi Cabinet, the city government notified the setting up of the Fifth Financial Commission for the period of five years from 2016 to 2021.
After it was approved by the Delhi Cabinet, the city government notified the setting up of the Fifth Financial Commission for the period of five years from 2016 to 2021.
Sudhir Krishna will be the chairman of the commission and K.R. Kishore has been appointed as the member secretary, who will hold office for the period of 18 months.
The order dated April 26 also stated that the AAP government will notify the other two members of the panel separately.
The Delhi government and the BJP-led corporations have been caught in an ugly battle over the implementation of the Fou-rth Delhi Finance Com-mission. The cash-strapped civic bodies have been demanding that the state enhance their tax share to 12.5 per cent, according to the fourth financial panel’s recommendations.
The AAP government, which had last year tabled the report in the Assembly in the face of mounting Opposition pressure and the high court’s instructions, has resolved that it will implement the report if the Centre accepts the recommendations of commission.
The state government sees the Fifth Finance Commission as a solution to the problem. However, the fifth commission’s report will be released after the next year’s municipal polls.
The fifth commission, as per the order, will review financial position of the municipalities along with the measures required to improve their financial position.
“The commission may review the functions assigned to the municipalities keeping in view the availability of resources, and the limitation capacity, especially with regard to the discretionary functions,” the order stated.
“The commission may make assessment of the of the debt position of the municipalities as on March 31, 2016 and suggest corrective measures as deemed necessary, keeping in view the financial requirements of the NCR.”
