15th Finance Commission: Panchayats likely to enjoy more financial powers

The 15th Finance Commission may ignore some ToRs not mandated by the Constitution in its final devolution formula

The Fifteenth Finance Commission (15th FC), whose terms of reference are mired in controversy, is likely to play safe on some of the more contentious terms by not factoring in some of them while deciding the devolution of the divisible tax pool between the Centre and states.
 
Additionally, the 15th FC, in its report to be submitted by October 2019, is likely to propose giving more financial powers to the panchayats and urban local bodies and their greater accountability - an issue that was not mentioned in the terms of reference (ToR), Business Standard has learnt.
 
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