Key Points
The role and functions of the Advisory Council will be to advise the Commission on any of the Terms of Reference (ToR) or related subjects that may be of relevance...
To assist in the preparation of papers or research studies and to monitor or assess studies commissioned by the Finance Commission, thereby enhancing the Commissions understanding of the issues in its ToR...
To help broaden the Commissions ambit and understanding by seeking the best national and international practices on matters pertaining to fiscal devolution and improving the quality, reach, and enforcement of its recommendations...
Additionally, the commission is also mandated to review the present arrangements for financing Disaster Management initiatives, with reference to the funds constituted under the Disaster Management Act, 2005 (53 of 2005), and make appropriate recommendations thereon...
The distribution among states, or horizontal devolution, is based on several criteria like demographic performance, Income, population, area, forest and ecology, tax and measures to check fiscal deficit by individual states..
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