We may go terribly right or wrong, says 15th FC chairman N K Singh

With little over a month remaining for the 15th Finance Commission to submit its report for 2021-22 to 2025-26, Chairman N K Singh said the recommendations of the first report, including that of devolution, may no longer hold. Singh told Arup Roychoudhury and Indivjal Dhasmana that the Commission could recommend spending 2.5 per cent of GDP on health in the light of the Covid-19 pandemic, and that GDP growth of FY22 will have to be discounted due to the low base effect from FY21. Edited excerpts:
 

With the pandemic and the resultant economic slowdown, how different are the assumptions that