Finance Commission held discussions with the finance ministry on fiscal and economic management as well as rationalisation of expenditure related to centrally sponsored schemes, an official statement said Thursday.
During the meeting, which happened on Wednesday, the 15th Finance Commission observed that the GDP numbers suggest continued high growth over the medium term even though there have been fluctuations within the overall global trend.
“On the expenditure trend, there were discussions with regard to rationalisation of the Centrally Sponsored Schemes in sync with the new life cycle, they being co-terminus with the finance commissions,” the statement said.
Centrally sponsored schemes are schemes that are implemented by state governments but are funded by the Centre with some portion of funding being borne by states.
The Commission also noted that the revenue projections on direct taxes are healthy though on indirect taxes, there have been periodic fluctuations.
