The Fourth Finance Commission of India

The Fourth Finance Commission of India was constituted on May 18, 1964, under the chairmanship of Dr. P.V. Rajamannar. Other members of the Commission included

The Commission suggested in its report that there should be greater co-ordination between the Centre and the States in common financial interests for which it recommended the establishment of a permanent organization in the Ministry of Finance

Recommendations

  1. The revenue resources of States for Five Years ending with 1970-71 on the basis of the levels of taxation likely to be reached at the end of 1965-66;
  2. Creation of a fund out of Estate Duty proceeds over a specified limit, for repayment of State’s debt to the centre; and
  3. Scope for economy with efficiency in States’ administrative expenditure.

References

Centre/State finance relation in India & Finance commission- Sansar Singh Janjue

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