21, March 2019 21/03/2019 – Posted in: Press Information Bureau

Fifteenth Finance Commission

(Finance Commission)

 

WHAT

  • Fifteenth Finance Commission holds meeting on issues of Environment, Forest and Climate change.
  • The Commission headed by its Chairman, Shri N. K. Singh.
  • The recommendations for climate change under the NDC Goal 5 were also discussed in the meeting.

Commission may measure states performance for incentives on two parameters:

(i) Achievements in implementation of flagship schemes of Government of India, disaster resilient infrastructure, sustainable development goals, and quality of expenditure.

(ii) Progress made in sanitation, solid waste managementand bringing in behavioural change to end open defecation.

 

NDC GOAL 5

Goal 5 of India’s NDC is ‘to create an additional carbon sink of 2.5 to 3 billion tonnes of CO2eq through additional forest and tree cover by 2030.

  • Goal 3 of India’s NDC is ‘to reduce the emissions intensity of its GDP by 33 to 35 percent by 2030 from 2005 level.
  • Goal 4 of India’s NDC is ‘to achieve about 40 percent cumulative electric power installed capacity from non-fossil fuel-based energy resources by 2030 with the help of transfer of technology and low cost international finance including from Green Climate Fund (GCF)’
  • Goal 7 of India’s NDC is ‘to mobilize domestic and new & additional funds from developed countries to implement the above mitigation and adaptation actions in view of the resource required and the resource gap’.
  • Goal 8 of India’s NDC is ‘to build capacities, create domestic framework and international architecture for quick diffusion of cutting edge climate technology in India and for joint collaborative R&D for such future technologies.

FINANCE COMMISSION

  • Finance Commission is constitutionally-mandated body established once every five years by President of India.
  • The Finance Commission of India was established on 22nd November, 1951, under Article 280 of the Constitution.

KEY ROLE OF FINANCE COMMISSION

  • It acts as an instrument to divide proceeds of divisible taxes between the states and the Union government.
  • Finance Commission also serves as a constitutional body for the purpose of allocation of certain resources of income between the Union and the State Governments.
  • The Finance Commission distributes of proceeds of Income-tax between the union and the states.
  • Finance Commissions mainly focuses on the financial relations between the union and the state government.

Source: PIB