Chinmaya IAS Academy – Current Affairs Chinmaya IAS Academy – Current Affairs
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To ensure funding needs of Defence
The Union Cabinet has approved expanding the terms of reference of the Fifteenth Finance Commission to address the funding requirements for defence and internal security as also extending its term to November 30, 2019. “The Union Cabinet has approved the proposed amendment to enable the Fifteenth Finance Commission to address serious concerns regarding the allocation of adequate, secure and non-lapsable funds for defence and internal security of India,” the government said in a statement. “Under the terms of reference (ToR) of the Commission, it is proposed to ensure an assured allocation of resources towards defence and internal security imperatives.” The amendment provides that the Fifteenth Finance Commission will also examine whether a separate mechanism for funding of defence and internal security be set up and if so, how it could be operationalised. “The Union Cabinet has approved the extension of the Commission’s term up to November 30, 2019,” it added. “It will enable the Commission to examine various comparable estimates for financial projections in view of reforms and the new realities to finalise its recommendations for the period 2020-2025.”
