14th Finance Commision(FFC)

Structure—1 chairman + 3 members + 1 part time member + Secretary

Chairman-YV reddy

Members-Sushma nath,M G Rao,Sudipto Mundle

Part time member-Abhijeet sen

Secy-Ajay Narayan jha

Work allotted (especially,other than regular FC functions):

-Propose changes to FRBM

-assess impact of GST on government finances

-Mechanism to compensate states for revenue losses.

-Insulate effect if policy fluctuations on prices of public utility services(water, irrigation,transport)

-Level of subsidies needed for inclusive growth,equitable sharing btw Centre and States.