Chairman of Finance Commission?
VerifiedAnswer: NK Singh
Explanation:
NK Singh serves as the Chairman of the 15th Finance Commission of India. His full name is Nand Kishore Singh, and he is a distinguished economist and former civil servant who has played a crucial role in India's economic policy formulation over the years.
The Finance Commission is a constitutional body established under Article 280 of the Indian Constitution. It is constituted every five years to recommend the distribution of tax revenues between the Union and State governments. NK Singh was appointed as the Chairman of the 15th Finance Commission in November 2017, with the commission's term covering the period from 2021-22 to 2025-26.
NK Singh brings extensive experience to this role. He is a former member of the Planning Commission and has served in various important positions in the government. His educational background includes degrees from prestigious institutions, and he has been actively involved in shaping India's fiscal policies. Before his appointment as Finance Commission Chairman, he also served as a member of the Rajya Sabha.
Under his leadership, the 15th Finance Commission has addressed several critical issues including the devolution of taxes to states, grants for local bodies, and disaster management funds. The commission has also dealt with challenges arising from the COVID-19 pandemic and its impact on federal finances. NK Singh's expertise in public finance and his understanding of center-state fiscal relations have been instrumental in the commission's recommendations for maintaining fiscal stability while ensuring adequate resources for states to meet their developmental needs.
