13th Finance Commission briefs Pranab on its recommendations

FM-KELKAR

New Delhi, Jan 22 (PTI) The Thirteenth Finance Commission
Friday briefed Union Finance Minister Pranab Mukherjee on its
recommendations on sharing tax receipts between the Centre and
the states, which are likely to have some ramifications on
the Budget to be presented next month.

"Today we briefed Finance Minister Pranab Mukherjee on
the recommendation of the commission. From here, it would go
to the Cabinet," said an official after the meeting.
Earlier, the Finance Minister had said the Finance
Commission's recommendations would be reflected in the Budget,
which are likely to be presented in Parliament on February 26.
The Commission was represented by the Thirteenth Finance
Commission Chairman Vijay Kelkar, Secretary Sumit Bose and
member B K Chaturvedi, among others.
The Commission had submitted the report to the President
on December 30, 2009.
"The report is likely to be tabled in the Budget session
of Parliament," the official added.
The report assumes importance as the new indirect tax
regime-- GST--is scheduled to be implemented from the next
fiscal and the new Direct Tax Code is likely to come into
effect from 2011.
The Commission was appointed in November 2007, with the
mandate to review the finances of the Union and the states,
and sharing of net proceeds from taxes between the two.
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