Finance Commission's report in Parliament before the Budget

The government today said it will table the 13th Finance Commission report on sharing the Centre's tax receipts with states in Parliament before the Budget, which will be unveiled on February 26.
     
"It will be tabled before the Budget," an official spokesperson told reporters while briefing them on the Cabinet meeting, which considered the recommendations of the Commission, which was headed by former Finance Secretary Vijay Kelkar.

Earlier, finance secretary Ashok Chawla had said the report would be tabled on February 25, a day before the Budget.
     
He had said Economic Survey would also be tabled on February 25, and the Railway Budget on February 24.

The Budget session would start from February 22.

The Finance Commission had submitted a report to president Pratibha Patil recently where it had discussed the model for revenue sharing between Centre and state for the period 2010-11 to 2014-15.
    
It is believed that the Commission in its report has suggested higher allocation to the states during five years starting from next fiscal.

The Commission's suggestions will be reflected in the Budget, finance minister Pranab Mukherjee had said earlier.

The report assumes importance in the light of likely implementation of new indirect tax regime — Goods and Services Tax — and the new direct tax code in a couple of years.