Current affair
14th Finance Commission
Government
of India has appointed Dr.Y.V.Reddy, the former Governor of RBI, as the
chairman of Fourteenth Finance Commission. The Commission has to give its
report by October 2014 and the recommendations will come into effect from April
1, 2015 for a five year period ending on 31st March 2020. Prof.
M.Govind Rao, PM’s Economic Advisory Council and Director of the National
Institute for Public Finance and Policy, Prof. Abhiji Sen, member Planning
Commission, Sushma Nath Former Finance Secretary and Sadipto Mundle, acting
Chairman. National Statistical Commission are its other members. Ajay Narayan
Jha will be Secretary to the Commission.
The
Finance commission a statutory body, is constituted by the President of India
under the provisions of Article 280 of Indian Constitution. The Commission
suggests how net proceeds of taxes are to be divided between the Union and
States and subsequently among the states.
The
terms of references of 14th Finance Commission are following
·
Decide the
formula for sharing revenues between the centre and states;
·
Suggest the
level of subsidies required for sustainable and inclusive development and how
they should be shared between the centre and the states.
·
Suggest a
statutory mechanism through which pricing of various public services such as
electricity and water can be insulated from policy interference.
·
Review the
state of finance, deficit and debt levels of the centre and states, keeping in
view, in particular, the fiscal consolidation roadmap recommended by the 13th
Finance Commission and
·
Suggest
measures for maintaining a stable and sustainable fiscal environment consistent
with equitable growth.
V.S.Sampath
The
senior most election commissioner of India V.S.Sampath has been appointed the
new Chief Election Commissioner of India. He replaces the present CBC
S.Y.Qureshi, Mr.Sampath was appointed election commissioner in 2009. Originally
belonging to Tamil Nadu Mr. Sampath has been an IAS officer of Andhra Pradesh
cadre.
D.K.Joshi
Admiral
D.K.Joshi will be the new Chief of Naval staff.
Admiral
Joshi will take over on August 31, when Admiral Nirmal Kumar Verma retires.
Topics to be covered from Hindu Paper dated on Tuesday,
February 5th 2013
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Topic
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Page No.
|
|
‘Notify Cauvery award
before Feb,20’
|
1
|
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Verma proposals not
rejected: Chidambaram
|
1
|
|
Agni VI all set to
take shape
|
1
|
|
Green calculations
|
10
|
|
The question of
casteism still remains
|
10
|
|
The new sexual
security regime
|
11
|
|
A road still runs
through it
|
11
|
|
Transforming India’s
health – care landscape
|
11
|
|
RIL stalls CAG audit
yet again
|
13
|
|
Our dams will not
impact ecology in India: China
|
13
|
|
SEBI revises rules
for amalgamation of companies
|
16
|
