Govt extends 15th Finance Commission's term by a month till 30 November; broadens ambit of recommendations

New Delhi: The government on Wednesday extended the 15th Finance Commission’s term by a month till 30 November, and broadened the ambit of its recommendation to include funds for defence and internal security, an official statement said. The government on 27 November, 2017, notified the 15th Finance Commission, headed by N K Singh, to suggest, among other things, the formula for devolution of funds to states by the Centre for five years commencing 1 April, 2020. “Cabinet approves extension of the term of the Fifteenth Finance Commission up to 30th November, 2019; approves Amendment in the Terms of Reference for the Fifteenth Finance Commission to address concerns regarding funds for defence and internal security,” an official tweet said. The commission was scheduled to finalise its report by 30 October this year.