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As per Article 280 of the Structure, the fee is required to make suggestions on the distribution of the online proceeds of taxes between the centre and the states. The fee additionally suggests the rules which ought to govern the grants in support of the revenues of the states out of the consolidated fund of India.
Because the chairman, Panagariya will make suggestions on the distribution between the Union and the States of the online proceeds of taxes and the allocation between the states of the respective shares of such proceeds.
He can even suggest measures wanted to reinforce the Consolidated Fund of a State to complement the sources of the Panchayats and Municipalities within the State on the idea of the suggestions made by the Finance Fee of the State.
“The Fee could assessment the current preparations on financing Catastrophe Administration initiatives, with regards to the funds constituted underneath the Catastrophe Administration Act, 2005 (53 of 2005), and make applicable suggestions thereon,” the notification stated.
The fee is anticipated to submit its report by October 31, 2025. “Chairman and different members of the Fee shall maintain workplace from the date on which they respectively assume workplace as much as the date of submission of Report or thirty first day of October, 2025, whichever is earlier,” the notification stated.The fifteenth finance fee was chaired by N.Okay. Singh, with Shaktikanta Das, Ashok Lahiri, Ramesh Chand and Anoop Singh as members.
