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PYQ 1200 Q/A Part - 1
PYQ 1200 Q/A Part - 2
PYQ 1200 Q/A Part - 3
PYQ 1200 Q/A Part - 4
PYQ 1200 Q/A Part - 5
Kerala PSC Indian Economy Book Study Materials Page 465
Book's First Pagea tr t re in ndia 17.13 (c) the objective of not only balancing the for compensation in case of any receipts and expenditure on revenue revenue loss. account of all the states and the union (iv) To review the present public expenditure but also generating surpluses for management systems and recommend, capital investment; including— (d) the taxation efforts of the central (a) budgeting and accounting standards government and each state and practices; government and the potential for (b) the existing system of classification of additional resource mobilisation; receipts and expenditure; (e) the level of subsidies required for (c) linking outlays to outputs and sustainable and inclusive growth and outcomes; and equitable sharing of subsidies between (d) best practices within the country and the central and state governments; internationally. (f) the expenditure on the non-salary (vi) To review the present arrangements of component of maintenance and financing of Disaster Management with upkeep of capital assets and the reference to the funds constituted under non-wage-related maintenance the Disaster Management Act 2005 and expenditure on Plan schemes to be make recommendations. completed by March 31, 2015 and (vii) To indicate the basis on which it has the norms on the basis of which arrived at its findings and make available specific amounts are recommended the state-wise estimates of receipts and for the maintenance of capital assets expenditure. and the manner of monitoring such The commission is required to generally take expenditure; the base of population figures as of 1971 in all cases (g) the need for insulating the pricing of where population is a factor for determination of public utility services like drinking devolution of taxes and duties and grants-in-aid. water, irrigation, power, and public However, the commission may also take into transport from policy fluctuations account the demographic changes that have taken through statutory provisions; place subsequent up to 1971. (h) the need for making public-sector enterprises competitive and market ffc recoMMendaTions oriented; listing and disinvestment; The 14th Finance Commission (FFC) submitted relinquishing of non-priority its report by early 2015. It has advised for enterprises; far-reaching changes for sharing of revenues (i) the need to balance management of between the Center and the States, on the one ecology, environment, and climate hand, and between the States, on the other. The change consistent with sustainable advices apply on the period 2015–20 and are economic development; and likely to have major implications for Center- (j) the impact of the proposed goods State relations, for budgeting by, and the fiscal and services tax on the finances of the situation of, the Center and the states. ‘Successful Centre and states and the mechanism implementation of the advices will advance the