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Finance panel gets long wish list
Context
15th Finance Commission
Suggestion for FC’s terms of reference
- A financial buffer against rising crude oil prices: A financial buffer should be created to insulate the economy from the volatility of rising crude prices and closer integration into the global economy
- Funds to deal with floods
- Bihar: 3% target for fiscal deficit under the Fiscal Responsibility and Budget Management Act was “iniquitous” (grossly unfair and morally wrong) and needed to be reviewed in the specific context of financially challenged States
