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The Pondicherry Finance Commission has been constituted in the union territory of Pondicherry in India. It has been set up under the guidelines of the Article 243 I of the Indian Constitution, with the main purpose being, to review the status of the financial implementations pertaining to the union territory of Pondicherry.
Pondicherry Finance Commission:
The Pondicherry Finance Commission is the financial committee set up as per the Article 243 I of the Indian Constitution, with the objective of bringing about an overall development of the state or union territory.
The Article 243I of the Indian Constitution provides, that the Governor of the Union Territory would, set up the Finance Commission, at the end of every fifth year, for the purpose of reviewing the financial status as per the 73rd Amendment of the Constitution Act, 1992.
Pondicherry-Facts
- The Pondicherry is one of the union territories in the Union of India
- It is located within the state of Tamil Nadu,near the Bay of Bengal
- The union territory of Pondicherry consists of three districts called Pondicherry, Karaikal, and Yanam
- The Pondicherry is a fabulous place and famous for Auroville, the ashram of Rishi Aurobinda and Mother's House
- It has become an important place for the pilgrimage and a popular tourist destination
Pondicherry Finance Commission-Objectives
The Pondicherry Finance Commission must follow these objectives for smooth functioning of the committee -
- The allocation of the total proceeds from the taxes, tolls, duties, and fees imposed by the Union Territory, which is to be divided between the Union Territory
- The financial assistance from the Government Funds pertaining to the union territory
- The allocation of the total proceeds with the union territory pertaining to taxes, tolls, duties, and fees imposed by the Union Territory
Pondicherry Finance Commission-Issues
- The Finance Commission of Pondicherry constituted under Article 243 (I) would attain to all matters referred by the municipalities as per the Article 243 (Y) of the Constitution
- To attain to matters mentioned by the Governor to the Pondicherry Finance Commission, regarding the proper financial operations within the union territory
- All recommendations by the Governor should be made together with an explanatory memorandum which is to be presented before the Legislation of the Union Territory
- The allocation of the total proceeds pertaining to taxes, tolls, duties, and fees imposed by the union territory
- Determining the duties, tolls, taxes, and fees, which are to be imposed on the union territory
- The union territories are not given the total authority pertaining to the preparation of budget
- The budget reflects the Center's intension to cover the differences in the non-Plan revenue and capital account, by the means of providing grants and loans respectively
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