New Delhi, Dec 30 (Inditop.com) The 13th Finance Commission constituted to determine the distribution of tax revenues between the central government and the states Wednesday submitted its report to President Pratibha Patil.
The commission, headed by former finance secretary Vijay Kelkar, also briefed President Patil on the recommendations made in the report, an official statement said.
The report, covering the period between 2010 and 2015, was to have been submitted by Dec 31, 2009. “The government will table the report in parliament in due course,” the statement said.
The commission was constituted to determine the sharing of tax revenues between the central and the state governments as well as to make recommendations on related issues.
Under the terms of reference of the report, the commission had also been asked to look into a new Fiscal Responsibility and Budget Management (FRBM) roadmap for 2010 to 2015.
The FRBM Act was enacted by parliament in 2003 to bring in fiscal discipline.
