Finance Commission likely to get extension

New Delhi: The Finance Commission may get extension as the panel has to examine devolution to UTs of J&K and Ladakh in the light of J&K Reorganisation Act, 2019. According to the Act, the distribution of taxes suggested by the 15th Finance Commission to the state of J&K will have to be apportioned to the Union Territories of J&K and Ladakh. The award made by the 14th Finance Commission to the existing state of Jammu and Kashmir will be apportioned between the successor UTs of Jammu and Kashmir and Ladakh by the central government on the basis of population ratio and other parameters. PTI