New Delhi: The Government of India has constituted the Fifteenth Finance Commission under the Chairmanship of N. K. Singh. The composition, Terms of Reference including revenue sharing, and Date of Submission of Report etc. has been notified vide Gazette of India, Extraordinary Part II-Section 3, Sub-section (ii) bearing S. O. 3755(E) dated 27th November 2017. The Commission has so far conducted ten internal meetings.
Report of the Fourteenth Finance Commission was laid in the Parliament on 24th February 2015 along with Explanatory Memorandum as to action taken on the recommendations of the Commission. All the recommendations of 14th Finance Commission under Articles 270 and 275(1) of the Constitution of India relating to share in Union Taxes and duties and Grants-in-aid were implemented during the Financial Year 2015-16.