According to the recommendations in the report for the financial year 2020 21 what amount is allocat...........

Economic and Social Issues Monetary and Fiscal Policy

Recently, the Fifteenth Finance Commission submitted its report with recommendations for the financial year 2020-21. The commission was constituted by the President of India under _____X______ of the Constitution to make recommendations for a period of five years commencing 1st April 2020. The final report of the Commission with recommendations for the 2021- 26 period will be submitted by ___________.

According to the recommendations in the report for the financial year 2020-21, what amount is allocated as Grant in aid for the local bodies?

50000 crore

65000 crore

78000 crore

83000 crore

90000 crore

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Explanation:

• The total grants to local bodies for 2020-21 has been fixed at Rs 90,000 crore which is equivalent to 4.31% of the divisible pool for 2020-21, up from the 3.54% (2019-20), of the divisible pool.
• The proportion of grants between rural and urban local bodies will be in the ratio of 67.5: 32.5.
• The grants will be divided between states based on population and area in the ratio 90:10.

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