The Finance Commission submitted its report for the financial year 2020-21. The 15th Finance Commission was constituted by the President of India under Article 280 of the Constitution on November 27, 2017, to make recommendations for a period of five years from April 2020 to March 2025. The Commission had a wide ranging terms of reference contained in the Presidential Notification.
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Thereafter, the Gazette Notification dated November 27, 2019 mandated the Commission to submit the report for the financial year 2020-21 by November 30, 2019, and thereafter the final report for the period April 2021 to March 2026 by October 30, 2020.
