Ranchi, May 30: 16th Finance Commission chairperson Arvind Panagariya has made it clear that if the process of local body elections is completed in Jharkhand this year, then the outstanding money for both the financial years 2024-25 and 2025-26 will be received. He was speaking at a press conference on Friday.
He said that the 15th Finance Commission had put a condition that elections of local bodies are necessary for grants. The money here is stuck due to non-conduct of elections
If elections are held this year, then the money for two years will also be released.
Panagariya also clarified that the Finance Commission only makes recommendations. Grants come from the Central Government’s budget. He said that now the Planning Commission is over. Niti Ayog has taken its place.
“The 13th Finance Commission had recommended the state’s share in central taxes to be 32.02 percent. The remaining 68 percent goes to the central pool,” said Panagariya.
The 15th Finance Commission had recommended the state’s share in central taxes to be 41 percent. Now the Jharkhand government is demanding 50 percent share in central taxes.
