The Secretary Finance, Nagaland, Y. Kikheto Sema, IAS has submitted report to the Fifteenth Finance Commission (15th FC), New Delhi on Thursday.
The report is vital as it decides the financial fate of the state every five years. The recommendations of the 15th FC will cover the period from April 1, 2020 to March 31, 2025. The recommendations of the FC are crucial for a resource constraint state like Nagaland which entirely depends on the grants from the central government.
As per guidelines and instructions issued to the State by the 15th FC, the State FC has prepared and submitted its report on ‘Statements Relating to State Finance,’ ‘Topic Notes Relating to State Finances,’ ‘Schedules & Notes Relating to Local Bodies’ and a State Memorandum to the 15th FC Secretary, Arvind Mehta.
When contacted over mobile phone, Kikheto said that unlike in the past, the 15th FC had instructed the states to submit reports and Memorandum in advance and accordingly the State Finance Department had prepared the report on a war footing for the past several months. He said Secretary 15th FC, Arvind expressed happiness at the timely submission of report by the State. Kikheto also said that the 15th FC had agreed to accept any supplementary memorandum if the need arises. He informed that the 15th FC was tentatively scheduled to visit the State during last week of November this year. “We are likely to submit supplementary memorandum to the 15th FC since they have agreed,” Kikheto added.
The Finance Commission is a Constitutional body that makes recommendations to the President of India with regard to the distribution of the proceeds of taxes between the Union and the states; determining principles which should govern the grants-in-aid of the revenues of the states out of the Consolidated Fund of India and the sums to be paid to the States by way of grants-in-aid etc.
The recommendations of the Commission are generally accepted by the Union Government as well as by the Parliament.
Kikheto was accompanied by Deputy Secretary (Budget) Finance Department, K. Metha.
– The Morung Express