Govt extends 15th Finance Commission's term by a month till Nov 30

The government Wednesday extended the 15th Finance Commission's term by a month till November 30, and broadened the ambit of its recommendation to include funds for defence and internal security, an official statement said. The government on November 27, 2017, notified the 15th Finance Commission, headed by N K Singh, to suggest, among other things, the formula for devolution of funds to states by the Centre for five years commencing April 1, 2020.

"Cabinet approves the extension of the term of the Fifteenth Finance Commission up to 30th November 2019; approves Amendment in the Terms of Reference for the Fifteenth Finance Commission to address concerns regarding funds for defence and internal security," an official tweet said. The commission was scheduled to finalise its report by October 30 this year.