Sixth Finance Commission
Government agency
The Sixth Finance Commission of India was incorporated in the year 1973 consisting of Shri K. Brahmananda Reddy as the chairman.
Members
The members of the commission were:[1]
- Shri K. Brahmananda Reddy, Chairman
- Shri Justice Syed Sadat Abal Masud
- Dr. B.S. Minhas
- Dr. I.S. Gulati
- Shri G. Ramachandran, Member Secretary
Recommendations
- The States demanded the inclusion of corporation tax into the divisible income tax and 1005 allocation of the net proceeds to them. The commission expressed that such inclusion was constitutionally forbidden but it can be reviewed by National Development Council.
- States share was increased from 75% to 80% due to the decrease in the divisible pool as the arrears of the advance tax collection had been cleared
- In view of the increasing integration of the national economy and for eliminating the regional imbalances the contribution factor was kept at 10% in the distribution of share amongst the states. The distribution inter se the states should be on the basis of fixed percentages
- Out of the net proceeds of the income tax, 1.79% should be allocated to the Union Territories
References
- ^ Fourteenth Finance Commission. "Members of the previous Finance Commissions:Sixth Finance Commission". Retrieved 22 July 2017.
Further references
- Sansar Singh Janjua (1999). Centre State Financial Relations in India and Finance Commission. New Delhi, India: Anmol Publications. ISBN 8126102233.
- "Finance Commission India". New Delhi, India: Fourteenth Finance Commission. Retrieved 22 July 2017.
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Ministry of Finance (India)
Economic Affairs |
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Expenditure |
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Revenue |
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Financial Services | |||||
DIPAM |
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DPE |
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Economic Affairs | |
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Revenue |
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Finance |
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- R. K. Shanmukham Chetty
- John Mathai
- C. D. Deshmukh
- T. T. Krishnamachari
- Jawaharlal Nehru
- Morarji Desai
- Sachindra Chaudhuri
- Indira Gandhi
- Yashwantrao Chavan
- Chidambaram Subramaniam
- Hirubhai M. Patel
- Charan Singh
- Hemwati Nandan Bahuguna
- R. Venkataraman
- Pranab Mukherjee
- Vishwanath Pratap Singh
- Rajiv Gandhi
- N. D. Tiwari
- Shankarrao Chavan
- Madhu Dandavate
- Yashwant Sinha
- Manmohan Singh
- Jaswant Singh
- P. Chidambaram
- I. K. Gujral
- Arun Jaitley
- Piyush Goyal
- Nirmala Sitharaman (incumbent)
for Finance
- Nirmala Sitharaman
- Jayant Sinha
- Arjun Ram Meghwal
- Pon Radhakrishnan
- Anurag Thakur
- Bhagwat Karad (incumbent)
- Pankaj Chaudhary (incumbent)
Advisor
- JJ Anjaria
- IG Patel
- IG Patel
- VK Ramaswamy
- Ashok Mitra
- Manmohan Singh
- RM Honavar
- Bimal Jalan
- Nitin Desai
- Deepak Nayyar
- Shankar Acharya
- Rakesh Mohan
- Ashok K Lahiri
- Arvind Virmani
- Kaushik Basu
- Raghuram Rajan
- Arvind Subramanian
- Krishnamurthy Subramanian
- V. Anantha Nageswaran (incumbent)