In pursuance of the provisions of Article 280 of the Constitution of India, the President vide Order published with the Notification of the Government of India in the Ministry of Finance (Department of Economic Affairs) S.O.1937 (E) dated the 14th November, 2007 constituted the Thirteenth Finance commission which shall hold office upto 31.10.2009 and was also required to submit its Report by 31st October, 2009.
The Commission has requested for extension of term upto 31st January, 2010 due to postponement of some State visits because of the general elections to the 15th Lok Sabha and certain State Legislative Assemblies resulting in delay in the presentation of the Union Budget as well as the Budgets of some of the State Governments for the year 2009-10.
The Cabinet has agreed to extend the term of the Thirteenth Finance Commission upto the 31.1.2010. Further, the Commission has been requested to submit its Report by 31st December, 2009 so that Government’s decision on their recommendations could be given effect to in the Budget 2010-11 as its recommendations will cover the period of five years from 1.4.2010 to 31.3.2015.
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