15th Finance Commission may submit interim report to President on Saturday

Report expected to recommend devolution for FY21

The Fifteenth Finance Commission is expected to submit an interim report to President Ram Nath Kovind on Saturday, November 30.

The report is likely to have recommendations on the divisible tax pool — the funds that are divided between the Centre and the states, and among the states — for 2020-21 only, Business Standard has learnt.

As reported earlier, the Commission is likely to get its term extended by six months because it has to examine devolution to the union territories of Jammu and Kashmir and Ladakh in accordance with the Jammu and Kashmir Reorganisation Act, 2019.

The government is yet to give