a   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
                                                       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