Jammu, Mar 7: The government is contemplating to table a bill in the assembly for extension of the State Finance Commission, whose term expired last month.
 Reliable sources told Greater Kashmir the SFC would get a 6-month extension. The government has asked the Law department to finalise the bill. This would be the third extension to the Commission since it was set up in 2006.
 The commission was set up so that it could act as an arbitrator between the state and the central government on financial matters.
 “The commission is almost defunct since its term expired last month,” sources said.
 “It can resume functioning only after a Bill is passed by the legislature,” they added.
 The extension of the Commission was necessitated following the 13th Finance Commission report tabled before Parliament.
 Established in the state under Article 243 (I) of Indian Constitution, the commission performs functions including transfer of funds allotted by the centre for the state, review economic condition of Panchayats and allot funds from the Consolidated Fund of the State to various Panchayats

Lastupdate on : Sun, 7 Mar 2010 21:30:00 Makkah time
Lastupdate on : Sun, 7 Mar 2010 18:30:00 GMT
Lastupdate on : Mon, 8 Mar 2010 00:00:00 IST