Finance Commission Chairman List :

Important Facts regarding Finance Commission

 

  • Finance Commission came into existence in 1951.
  • It was established under Article 280 of the Indian Constitution by the President of India.
  • It was formed to define the financial relations between the centre and the state.
  • As per the Constitution, the commission is appointed every five years and consists of a chairman and four other members.
  • Till date, Fourteen Finance Commissions have submitted their reports.
  • Finance commission is antonomous body which is governed by the government of india.

14th Finance Commission ( 2015 – 2020 )

1. The 14th Finance Commission was established in 2013 and is headed by Former Governor of the Reserve Bank of India, Mr. Y.V. Reddy, is the Chairman.

2. Major Recommendations of 14th Finance Commission include

  • Fiscal deficit to be reduced to 3% of the GDP by 2017–18.
  • A target of 62% of GDP for the combined debt of centre and states.
  • The share of states in the net proceeds of the shareable Central taxes should be 42%. This is 10 percentage points higher than the recommendation of 13th Finance Commission.
  • Revenue deficit to be progressively reduced and eliminated.

Here is a list of List of Finance Commissions and their Chairmen/Heads  which will help you in exams like UPSC, BPSC,SSC MTS,SSC CHSL, SSC CGL,Railways and other Banking Exams like IBPS, RBI, SBI Clerk etc.

S.No Finance Commission Year of Establishment Chairman Operational Duration
1. First 1951 K. C. Neogy 1952–57
2. Second 1956 K. Santhanam 1957–62
3. Third 1960 A. K. Chanda 1962–66
4. Fourth 1964 P. V. Rajamannar 1966–69
5. Fifth 1968 Mahaveer Tyagi 1969–74
6. Sixth 1972 J. M. Shelat 1974–79
7. Seventh 1977 K. Brahmananda Reddy 1979–84
8. Eighth 1983 J. M. Shelat 1984–89
9. Ninth 1987 Y. B. Chavan 1989–95
10. Tenth 1992 N. K. P. Salve 1995–2000
11. Eleventh 1998 A. M. Khusro 2000–2005
12. Twelfth 2002 C. Rangarajan 2005–2010
13. Thirteenth 2007 Dr. Vijay L. Kelkar 2010–2015
14. Fourteenth 2013 Dr. Y. V Reddy 2015–2020

15. 15th Finance Commission-N K Singh (1 April 2020 to 31 March 2025)

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