India News | Gujarat Constitutes 4th State Finance Commission; BJP Leader Yamal Vyas Appointed Chairman
Get latest articles and stories on India at LatestLY. The Gujarat government on Monday said that it has constituted the 4th State Finance Commission (SFC) and appointed Bharatiya Janata Party (BJP) leader Yamal Vyas as its chairman.
Ahmedabad, Nov 4 (PTI) The Gujarat government on Monday said that it has constituted the 4th State Finance Commission (SFC) and appointed Bharatiya Janata Party (BJP) leader Yamal Vyas as its chairman.
The 4th SFC has been constituted after a gap of nearly nine years, as the tenure of the 3rd SFC, headed by Bharat Gariwala, ended in 2015.
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Vyas, the BJP's chief spokesperson, is a chartered accountant and company secretary with nearly four decades of experience in the field.
He was a full-time member of the 3rd SFC between 2011-2015 and has served as an independent director on the boards of various state PSUs.
"In pursuance of the provision of Articles 243-I and 243-Y of the Constitution of India, read with section 226 of the Gujarat Panchayat Act, 1993, the Governor of Gujarat is pleased to constitute the fourth SFC under the chairmanship of Yamalbhai Vyas," stated a notification issued by Chief Secretary Raj Kumar.
The orders regarding the detailed terms of reference, the term and conditions of the appointment of the chairman and the period for which he shall hold the office shall be issued later, it said.
The 16th Finance Commission, headed by Arvind Panagariya, visited Gujarat last month, and the government demanded that the share of states in the 'divisible pool of taxes' be raised from the current 41 per cent to 50 per cent.
A delegation from Congress also met the Commission and submitted that the SFC should be appointed every five years, and Gujarat should have appointed the seventh SFC by now.
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