Ranchi, Aug. 26: A team from the 14th Finance Commission is expected to visit Jharkhand in January next year to discuss the state’s growth plans for the next five years beginning April 1, 2015.
The visit assumes significance because the commission, after hearing the state’s demands, will recommend sharing of tax proceeds between the Centre and the state for the five-year period.
State finance secretary A.P. Singh, who was in Delhi today, confirmed the news.
He met finance commission secretary A.N. Jha, joint secretary M.S. Bhatia and director Ashutosh Joshi, who looks after affairs vis-à-vis Jharkhand.
“We are preparing a detailed memorandum, which will be submitted to the finance panel, with help from experts at XISS. We may take help from IIM-Ranchi. Things are expected to be ready before December,” Singh told The Telegraph over phone from Delhi.
The Jharkhand government will make a detailed presentation on the state’s finances and its projection for the award period during the proposed visit. Moreover, it will express its views on some of the terms of reference of the finance panel.
The team, during its visit, may also interact with representatives of political parties, panchayati raj institutions, urban local bodies and trade and industry associations.
Jharkhand has been seeking a larger share of mining royalties from the Centre for the past couple of years, given the state is one of the biggest producers of some major minerals, including iron ore and coal, in the country.
This apart, the issue of rationalisation of the state’s share in central taxes and a better deal in ongoing railway projects are among the main demands pending with the finance commission as well as the Planning Commission.
The finance commission will finalise its recommendations by October 31, 2014, after completing its discussions with all states, the central government and stakeholders.
The Centre announced formation of the 14th Finance Commission under the chairmanship of former Reserve Bank of India governor Y.V. Reddy in January this year.