Question: Who is the chairman of the 15th Finance Commission of India?
(a)N K Singh
(b)Amitabh Kant
(c)Bibek Debroy
(d)P Sainath
Answer: (a)
Related facts:
- The Fifteenth Finance Commission held online meetings with its Advisory Council on 23-24 April, 2020.
- The meeting was chaired by Shri N. K. Singh, Chairman XVFC was attended by all members and senior officials of the Commission.
- Key highlight of the meeting:
- All members unanimously suggested that the projections of real GDP growth made before March 2020 need to be relooked into entirely, and, revised downwards considerably.
- The Council Members felt that the shortfall in tax and other revenues will be large due to subdued economic activity.
- Following suggestions were also provided:
- Small scale enterprises are cash-starved so a support mechanism be devised to help them overcome this problem.
- Non-banking financial companies (NBFCs) are also affected by the slowdown. In order to avoid bankruptcies and deepening of NPAs, measures like partial loan guarantee may help.
- The Council also felt that it is likely that different States may come out of the severity of the impact of the pandemic in different stages. Hence, the revival of activity in different States will be at varied pace.
Author: Himanshu Shukla
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