The 13th Finance Commission would submit its report containing recommendations mainly on the sharing of taxes between the Centre and the states to the President of India by the end of the year, its Chairman Vijay Kelkar said today.
"13th Finance Commission report would be submitted to the President by December 31," Kelkar said at the release of Green India, 2047, a report by The Energy and Resources Institute (TERI).
In September, the government had extended the term of the commission by three months up to January, 2010. It was earlier required to submit its report by October 31, 2009.
The Commission was appointed in November, 2007. Broadly, its mandate covers a review of finances of the Union and the states and sharing of the net proceeds of the taxes between the two.
The recommendations will cover the five year period commencing from 1st April, 2010.
