13th Finance Commission to be reflected in Budget 2010-11 - FM

Submitted by Sunil Kashyap on Wed, 12/30/2009 - 14:53

Pranab-MukherjeeToday, Finance Minister Pranab Mukherjee shared that recommendations of the 13th Finance Commission will be reflected in the upcoming Budget 2010-11. The report was submitted earlier today to President Pratibha Patil.

The Commission was headed by Dr. Vijay Kelkar, the ex-Finance Secretary, and other members to assist him included Mr B. K. Chaturvedi, Dr. Indira Rajaraman, Prof. Atul Sarma and Dr. Sanjiv Misra.

"There is a system. (The report) will be tabled in Parliament as per the system", said Mr. Mukherjee.

After the tabling of the report, it will reflect in the Budget.

The 13th Finance Commission report has been deemed much important in the current scenario, since changes in the areas of direct and indirect taxes are likely to be witnessed over the coming years, mainly in the form of Goods and Services Tax and Direct Taxes Code.


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