The city government on Tuesday approved the setting up of the 5th Delhi Finance Commission, an official statement said.
The decision was taken at a cabinet meeting.
"Lt. Governor of Delhi (Najeeb Jung) will appoint a chairperson and three members, including member-secretary, on the recommendation of the council of ministers. The commission will be effective from April 1," the statement said.
The commission has been initially constituted for a period of one year.
"The appointment of the chairperson, members and other terms and conditions shall be notified separately," the statement said.
