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Functions of Finance Commission (in Tamil)
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(Tamil) In this lesson we are going to learn the following things - Functions of finance commission - Tax devolution - Central assistance

Gowtham V is teaching live on Unacademy Plus

Gowtham V
Mechanical Engineer - Mentor for competitive exam aspirants - Science Teacher - TNPSC mentor at 'Kalam Vision Academy'

U
Unacademy user
effective study through unacademy.... thanx mam 😊
hi sir pls cmake vedio on centre state relationship..?
  1. @ba 60 600TL lin Introduction to FINANCE COMMISSION FOR TNPSC, UPSC, SSC and PART 4 I other exams


  2. Name: Gowtham About me: Mechanical Engineer TNPSC and UPSC aspirant


  3. What we covered so far. Finance Commission: Non permanent Constitutional body Quasi -judicial body Also seen: Constitution body, statuatory body, regulatory body, Extra-constitutional body and Quasi-Judicial body


  4. What we covered so far. Composition of finance commission Qualification of the members


  5. What we covered so far. Consolidated fund of India Contingency fund of India Public account / Public fund


  6. What we are going to see 26 Functions of Finance commission


  7. Introduction to Financocommission in India The finance commission recommend to the Govt of India on the following areas. 1. Tax Devolution: 2. Grant-in-aids 3. Measures to augmen (increase) the Consolidated fund of states 4. Any other matter referred by president


  8. Introduction to Financocommission in India Tax Devolution: Tax devolution means sharing of tax revenue between Centre and the state and among the states Vertical Devolution-Sharing of tax from center to all states as a whole Horizontal Devolution-sharing of tax among the states


  9. Introduction to Financocommission in India To understand this, let us take an example: The tax revenue of Govt of Inida in a particular year is 100 Rs. So it will share 42 Rs to the states. (42% as recommended by 14th Finance Commission) That 42 rupees will be shared among the states in India. Let us assume there are 10 states in India, this 42 rupees will not be shared equally among the states (i.e, all states will not get 4.2Rupees. Some may get Higher and some may get lower)


  10. Introduction to Financocommission in India The factors which decide the percentage of amount that should be allocated to a particular state are Fiscal capacity or Income Distance (50%) Population 1971 (17.5 Population 2011 (10% newly introduced by 14th FC) Area (15%) Fiscal discipline (17.5%) Forest cover (7.5% newly introduced by 14th FC) %) 2. 3. 4. 5, 6.