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September 2019
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Sourabh wins Vietnam Open Super 100 title        England close in on Ashes-levelling win after Broad double        Air India posts Rs 4,600 cr operating loss in 2018-19; aims operating profit this fiscal        SBI to move RBI to offer fixed-floating rate home-loans: Chairman        Hong Kong returns to violence with tear gas and Molotovs        36 people missing after boat sinks in Congo river: DRC police        Underfire PM calls up Hulk, claims 'huge' Brexit progress        Dearth of quality people in north India: Labour minister on unemployment        Will implement NRC in Haryana, says Khattar        One nation-one language will never be a reality: Jairam Ramesh        21 Indians killed in 2,050 ceasefire violations by Pak this year: MEA        We need to take advantage of India's inexperienced pace attack: Klusener        India's contrasting training camps at World Championships        Inflation under control, clear signs of revival in factory output: FM        China to lift punitive tariffs on US soybeans, pork        Former PM Cameron 'sorry' for Brexit divisions        Pakistani cleric Tahirul Qadri quits politics, resigns from party        Afghan government says elections first, peace deal after        My govt committed to the welfare of peasants & also to promote industry: Mamata        Amend Constitution to ensure use of Indian languages in SC, high courts: Paswan        
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Business News
15th Finance Commission holds meeting with Raj bodies, industry
 
New Delhi, Sep 8 (PTI) The 15th Finance Commission on Sunday held meetings with representatives of Rajasthan's Panchayati Raj institutions, urban development bodies, trade and industry, and economists as part of its consultation process for making recommendations for the 2020-25 period.

According to an official release, the Commission headed by Chairman N K Singh along with its Members and senior officials met with the representatives of Rajasthan Panchayati Raj institutions (PRIs).

The Commission expressed concern over issues pertaining to accounting of PRIs, including accountability mechanism and financial reporting of the Panchayati Raj Institutions in the State continues to be weak.

Of the total 10,219 PRIs, only 6,802 (66.5 per cent) of PRI Accounts were certified by Department of Local Fund Audit, of which only 20(0.2 per cent) PRI accounts were certified without qualification, it added.

As per the statement, out of 23 functions transferred, funds and functionaries were transferred in 15 out of 23 subjects.

The commission noted all the concerns highlighted by the representatives of the PRIs and promised to address them in its recommendations to the central government.

Rajasthan has a total of 10,220 PRIs, of which 9,892 are Gram Panchayats, 295 Panchayat Samities and 33 Zila Parishads.

Meanwhile, the 15th Finance Commission also held a meeting with economists in Jaipur on September 8, 2019, in coordination with the Government of Rajasthan and CUTS International.

Many issues pertinent to fiscal devolution and issues specific to improving the economic growth of Rajasthan have been discussed in the meeting.

The major points raised by the economists during the meeting include deficit management of governments is a matter that needs to be carefully handled with full recognition of contingent liabilities. At the same time, considering the investment requirements of the Indian economy, it is also important to ensure that future fiscal policy crowds in private investment.

Another concern raised by the economists was corrections attempted in the power distribution sector in terms of UDAY scheme affected the deficit position of the Government of Rajasthan considerably. Going forward, the assessment of the expenditure and revenue deficit of the State should take this into account.

The 15th Finance Commission also met with the representatives of the Urban Local Bodies (ULBs) of Rajasthan.

The Commission was informed 16 out of 18 functions envisaged in the Twelfth Schedule of the Constitution have been devolved to ULB's. Water Supply function is partially devolved and urban planning is yet to be devolved to PRIs.

Rajasthan has a total of 190 ULBs, of which 149 are Municipal Boards, 34 are Municipalities and 7 are Municipal Corporations.

The 14th Finance Commission had recommended for the period 2015-20, a devolution of Rs 3611 crore to Rajasthan as Basic Grant ( 5.2 per cent of total grants) and a devolution of Rs 903 crore as Performance grant ( 5.2 per cent of total grants).

The commission also met with the representatives of the Trade and Industry bodies in Rajasthan.

Representatives of Industries and TradeAssociations present in the meeting included representatives of Rajasthan Chamber of Commerce & Industry, CII Rajasthan, Federation of Rajasthan exporters, Gems & Jewellery Export Promotion Council, United Council of Rajasthan Industries, FICCI, FORTI, Jaipur Chamber of Commerce and Industries, Laghu Udyog Bharti, PHDCCI, Jaipur.


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