The other members of the Commission, which is expected to submit its report by October 2009, are Emeritus Professor, National Institute of Public Finance and Policy, Indira Rajaraman, National Council of Applied Economic Research Chief Economist Abusaleh Shariff, former Rajiv Gandhi University vice-chancellor Atul Sarma, an official release said.
Besides, Planning Commission member B K Chaturvedi will be the part-time member while Sumit Bose will be the Secretary to the Commission. The recommendations of the 13th Finance Commission will cover the period of five years from April 1, 2010 to March 31 2015.
The Commission will also review the financial position of the Union and the States and suggest measures for maintaining a stable and sustainable fiscal environment consistent with equitable growth.
In addition to this, it will take stock of the present arrangements as regards financing of disaster management with reference to the National Calamity Contingency Fund and the Calamity Relief Fund and the funds envisaged in the Disaster Management Act, 2005.
It will also take into consideration the likely impact of the proposed implementation of Goods and Services Act (GST) with effect from April 1, 2010, including its impact on foreign trade.
The Finance Commission has also been asked to consider the need to improve the quality of public expenditure to obtain better outputs and outcomes, the release said.
It added that the need to manage ecology, environment and climate change consistent with sustainable development, which is an issue of national concern will also be taken into account.
The Commission, a constitutional body, is set up every five years to make recommendations on distribution of tax proceeds between the Centre and states and lays down principles for administration of grants-in-aid to states out of the Consolidated Fund of India.
