Maharashtra Finance Commission

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Maharashtra Finance Commission has been established in the state so that it can act as an arbiter between the state and the central government with regard to financial matters. The Finance Commission in Maharashtra also has been given the responsibility of various other functions.

The establishment of Maharashtra Finance Commission:

Maharashtra Finance Commission has been established in the state according to the rules that have been laid down in the Article 243 (I) of the Constitution of India. According to this article, the governor of the state shall establish the Finance Commission from the beginning of the Constitution seventy- third Amendment Act, 1992 and after that at the end of each five years.

The sectors funded from Maharashtra Finance Commission:

  • Fiscal administration
  • Health care services
  • Elementary education
  • Computer training for children
  • Administration of districts
  • Administration of prisons
  • Police administration
  • Public libraries
  • Heritage protection
  • Fire services
  • Infrastructure development

The functions of Maharashtra Finance Commission:

  • To function as an arbiter between the center and the state governments with regard to matters that are financial

  • To transfer the grants that are alloted by the central government for the state government

  • To look over the financial condition of the various local bodies in the state such as the Panchayats and municipal bodies

  • To allot grants from the Consolidated Fund of the State to the various local bodies that are there within the state like the Panchayats and municipal bodies

  • To take such steps that help in improving the financial condition of the various local bodies in the state such as the municipal bodies and Panchayats

  • To determine the taxes, tolls, duties, and fees that may be levied by the various local bodies that are there in the state such as municipal bodies and Panchayats

  • To distribute between the state government and the various local bodies that are there in the state like Panchayats and municipal bodies the total proceeds of taxes, tolls, fees, and duties that are charged by the state


The funds received by Maharashtra Finance Commission:

Maharashtra Finance Commission has been allotted by the Twelfth Finance Commission the grant of around 5.053% out of the total resources that have been transferred to all the states in India. The Finance Commission in Maharashtra will be given this grant during the time period of 2005 to 2010.

The state government must boost Maharashtra Finance Commission:

Maharashtra Finance Commission must be given boost by the state government for this will help in bringing in more funds from the center for the state. Also this will help in improving the financial condition of the local bodies such as Panchayats and municipal bodies that are there in the state.

For further information on State Finance Commissions, please refer to the following sites