justwiki.

net

http://justwiki.net/14th_Finance_Commission

14th Finance Commission

Finance commission is quasi Judicial body under article 280
It has four members plus chairman, 14th FC (2015-20) is headed by YV Reddy
80th amendment , Union has to share atleast 29% of revenue with state
Vijay Kalkar in 13th FC, allocated 32% to states.

Assignment of any FC
1. Distribution of revenue between union and state
2. devising formula for grant
3. suggesting method to augment resources for local bodies.
4. any matter referred to it

Matters referred to 14th FC

Pricing of public utilities
Suggestions to reduce fiscal deficit and subsidies provided by both - Union and state
Implementation of GST
Suggestions on augmentation of Disaster relief fund.
it will look into issues like disinvestment, GST compensation, sale of non-priority PSUs and subsidies.

Reference
http://zeenews.india.com/business/news/finance/y-v-reddy-to-head-14th-finance-commission_67315.html
http://pib.nic.in/newsite/erelease.aspx?relid=91309
www.finance.mp.gov.in/14fc_press_note_eng.pdf