DIMAPUR, Aug 18 - Nagaland Finance department has submitted its report on State Finance and a State memorandum to 15th Finance Commission secretary Arvind Mehta.
According to reports, the State Finance department submitted the report as per the instruction of 15th Finance Commission on Thursday.
A State Finance department official said the recommendation of the 15th Finance Commisiion was important as it would decide the fate of State�s financial position from April 1, 2020 to March 31, 2025.
The Finance Secretary said the department was likely to submit supplementary memorandums to the FC.
He said the FC was tentatively scheduled to visit the State in the last week of November this year and that the State Government was preparing to receive the team.
The Finance Commission makes recommendations regarding: a) distribution of the proceeds of taxes between the Union and States and b) determination of principles that should govern grants-in-aid of revenues of the States out of the Consolidated Fund of India and sums to be paid to the States by way of grants-in-aid, etc.