Bhubaneswar: The 6th State Finance Commission, which will recommend measures to improve financial position of panchayati raj institutions (PRIs) and urban local bodies (ULBs), was constituted by the govt on Wednesday.
The finance panel, supposed to be constituted every five years under Article 243 of the Constitution, will have five members. Retired IAS officer Arun Panda will be the chairperson, while the other members are XIMB professor Asit Mohanty, Amaresh Samantray of Pondichery University, Bibhu Prasad Nayak of TISS and additional finance secretary, Satya Priya Rath. The members will hold office for six months.
While making recommendations, the commission will consider functions and liabilities of three-tier panchayati raj institutions and ULBs, scope for better fiscal management, need for providing adequate incentives for better resource mobilisation. The panel will consider revenue proceeds of state govt and demands on accounts of expenditure relating to civil, police and judicial administration. The panel will consider distribution of taxes, duties and tolls between state and the PRIs and ULBs.
The 5th state finance panel was formed in 2018.TNN