Motilal Oswal
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Motilal Oswal
May 17, 2018 09:27 PM | Economy

ToR of 15th Finance Commission: Ministers of five states meet President Ram Nath Kovind

The Finance Ministers of Delhi, Kerala, West Bengal, Andhra Pradesh, Punjab and the Chief Minister of Puducherry met President Ram Nath Kovind in New Delhi on Thursday and submitted a memorandum urging amendments to the Terms of Reference (ToR) of the 15th Finance Commission.

The ministers said that the ToR would destroy the financial autonomy of the states.

These states had earlier protested that they would lose out because of the commission's decision to use the 2011 population census instead of 1971 as a basis for devolution of taxes from the Central government to the states, as they had successfully controlled their population.
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