CURRENT AFFAIRS

Detailed explanation-1: -Detailed Solution. Y V Reddy was the chairman of the 14th finance commission.

Detailed explanation-2: -The Fourteenth Finance Commission (FC-XIV) was constituted by the President under Article 280 of the Constitution on 2 January 2013 to make recommendations for the period 2015-20. Dr. Y. V. Reddy was appointed the Chairman of the Commission.

Detailed explanation-3: -The 15th Finance Commission submits its Report for 2021-22 to 2025-26 to the President of India. The Fifteenth Finance Commission (XVFC) led by Chairman Sh N K Singh, today submitted its Report for the period 2021-22 to 2025-26 to the Hon’ble President of India. Members of the Commission, Shri Ajay Narayan Jha, Prof.

Detailed explanation-4: -The 14th Finance Commission enabled the States to improve their fiscal position in the following ways: Share in Centre’s Divisible Pool: The commission recommended an increase in the share of States in the Center’s divisible tax pool to 42% from 32% at present.