Wednesday, January 2, 2013

Chairman of 14th Finance Commission - Y V Reddy

Former RBI Governor Y V Reddy will be the Chairman of 14th Finance Commission; the 13th Finance Commission was headed by former Finance Secretary Vijay Kelkar. The Finance Commission has been asked to submit its report by 31st October, 2014. Finance Commission, a constitutional body, is set up every five years.
Besides other things, the Commission lays down principles governing the grants-in-aid to states and other local bodies for a five-year period beginning 1st April 2014. Prior to joining RBI as its Governor in September 2003, Reddy was India's Executive Director on the Board of the International Monetary Fund.

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