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President Murmu constitutes Finance Commission for UTs including Ladakh
Leh, Dec 31: President Droupadi Murmu on recommendations of the Union Ministry of Home Affairs (MHA) has constituted a Finance Commission for Union Territories of Ladakh, Andaman and Nicobar Islands, Dadra and Nagar Haveli and Daman and Diu and Lakshadweep.
The Commission will be assigned to review the financial position of Panchayats and Municipalities and recommend distribution between the Administration of the Union Territories and their respective Panchayats and Municipalities of the net proceeds of taxes, duties, tolls and fees leviable by the respective UT administration.
The said Finance Commission will also decide grants-in-aid to Panchayats and Municipalities of the UTs from the Consolidated Fund of India and measures needed to improve the financial position of Rural and Urban Local Bodies besides capacity to enlarge their resource base.
CEC Gyalson expressed gratitude to Hon’ble President for constituting the Finance Commission and Home Ministry for the recommendations. He expressed hope that the said Finance Commission will achieve the desired goals it has been set up for within the stipulated time frame and the recommendations will ensure holistic development of the Panchayats and the Municipality.
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