Sixth Punjab Finance Commission submits its report to Governor Punjab

Sixth Punjab Finance Commission submits its report to Governor Punjab

Chandigarh, March 29: The sixth Punjab Finance commission submitted its report covering the period from 2021-22 to 2025-26 to Sh. Banwarilal Purohit, the Governor of Punjab here today at Punjab Raj Bhawan.

Chairman of Punjab Financial Commission, K.R. Lakhanpal, IAS (Retd.) former Chief Secretary, Punjab, Member  Vajralingam, IAS (Retd.) and Dr. B.S. Ghuman, Expert Member presented the report for further necessary action according to Article 243-1(4) and 243-Y(2) of the Constitution, which requires the Governor to cause every recommendation made by the Commission to be laid before the Legislature of the State.

Pertinently, the current State Finance Commission (SFC) is the 6th Commission which was constituted by the State government under Section 3(1) of the Punjab Finance Commission for Panchayats and Municipalities Act, 1994 on 03.07.2018.

The main objective of constituting the SFC is to address the imbalance that exists between the functions devolved on the local bodies and the financial resources available to them. Therefore, the SFCs role is that of adjudication between the State Government and the local bodies and is on par with the role of the Central Finance Commission (CFC) constituted under Article 280 of the Constitution.

The Commission in its report has made a fervent appeal to the State Government to take expeditious and positive action on its recommendations.